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1.46 could hardly stave off the cable shortfall

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 7, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    GBPUSD Daily 07-01-2016 06-57-04 ص.jpg
    GBPUSD could hardly find support at 1.46 to rebound for trading near 1.46 currently keeping trading below its daily Parabolic SAR (step 0.02, maximum 0.2) for 16 consecutive days reading today 1.4869, after 7 dark days to be in a deeper place below its Daily SMA50, Daily SMA100 and Daily SMA200 having oversold stance.

    As the cable daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility has its main line is in oversold area below 20 reading now 12.387 and also its signal line which is reading 13.556.

    After the cable faced increasing of the downside momentum following forming another lower peak at 1.4948 below 1.5238 which capped its rebound on last Dec. 11.

    Important levels: Daily SMA50 @ 1.5059, Daily SMA100 @ 1.5208 and Daily SMA200 @ 1.5319


    S1: 1.4600
    S2: 1.4564
    S3: 1.4345
    R1: 1.4723
    R2: 1.4845
    R3: 1.4948

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

    To open your account at Trade-24 - Click here

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