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The cable came under pressure, before the release of UK Q3 GDP

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 23, 2015.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    GBPUSD Daily 23-12-2015 06-36-02 ص.jpg
    The Greenback was able to press further on the British pound to send the cable for trading now near 1.4830, after breaking its previous supporting level at 1.4863.

    The Cable which is waiting today for the release of UK Q3 GDP could hold yesterday above 1.48, after extension of the current downside wave which started following peaking at 1.5238 on this Dec. 11 to have 7 consecutive days of falling until now running again to the downside faster than the way it runs to the upside.

    This pace of falling drove the cable daily Stochastic Oscillator (5, 3, 3) whichis sensitive to the volatility to have its main line in the oversold area below 20 reading 8.352 and also its signal line which is reading now 8.057.

    Important levels: Daily MA50 @ 1.5177, Daily MA100 @ 1.5291 and Daily MA200 @ 1.5323
    S1: 1.4803
    S2: 1.4698
    S3: 1.4564
    R1: 1.4948
    R2: 1.5007
    R3: 1.5095

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