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The cable could rebound keeping 1.4345 supporting level unbroken

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 13, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    GBPUSD Daily 13-01-2016 06-30-40 ص.jpg
    The cable falling yesterday below 1.45 could gather more interests in selling stopping buying loss to lead it to reach 1.4350, before rebounding keeping June 2010 supporting level at 1.4345 unbroken until now.

    After rebounding for trading now near 1.445, The cable daily RSI is referring to continued existence in its oversold area below 30 reading now 24.261, while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral region coming up from its oversold area below 20 reading 29.426 and also its signal line which is reading now 21.794.

    After forming a series of lower highs and also lower lows, GBPUSD could have extended downside wave from 1.5238 to break its major supporting level at 1.4564 which could hold since last Apr. 13 until last Thursday to watch following this serious break more interests in selling this pair.

    Important levels: Daily SMA50 @ 1.4986, Daily SMA100 @ 1.5161 and Daily SMA200 @ 1.5311


    S1: 1.4345
    S2: 1.4257
    S3: 1.4228
    R1: 1.4643
    R2: 1.4723
    R3: 1.4845

    Have a good day

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

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

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    prav likes this.

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