Charting FX: Cable back to trend line resistance

The Dollar Basket shows a series of higher highs and lows, indicating it is trending towards the upside, but IG analyst Joshua Mahony notes that it is a very gradual move and 9,510 points is a near-term target. Cable still has a long-term descending trend line in play, and a close above $1.55 would give it some confidence. Joshua also looks at the Australian dollar after the very important Chinese GDP data.

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