The Pound has broken above the 1/2 margin zone. Unless we see an immediate reversal—which currently shows no signs of occurring - the pair is poised to enter a bearish margin cycle with a target of 1.3350.
I would identify 1.3400 as a key intermediate resistance level.
The Cable reached the 1.3400 target; however, an interesting option model has emerged, identifying an optimal entry point right at the full margin cycle zone in the 1.3350 area.
