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The Cable has resided again for trading near 1.4880

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 24, 2015.

  1. fx-recommends

    fx-recommends Content Contributor

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    GBPUSD Daily 24-12-2015 06-41-43 ص.jpg
    After forming bottom at 1.4803, The cable has resided again for trading near 1.4880 following the release of UK Q3 GDP which has shown yearly growth by only 2.1% while the market was waiting for 2.3%.

    GBPUSD could have yesterday the first green day after 7 days of falling following forming al lower high at 1.5238 on this Dec. 11.

    The cable daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility could have its main line out of the oversold area below 20 to read currently 25.288 into the neutral territory, while its signal line is still in the oversold area reading 15.289 now.


    Important levels: Daily MA50 @ 1.5166, Daily MA100 @ 1.5286 and Daily MA200 @ 1.5323

    S&R:

    S1: 1.4803
    S2: 1.4698
    S3: 1.4564
    R1: 1.4948
    R2: 1.5007
    R3: 1.5095


    Walid Salah El din
    Senior Market Analyst
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    walid.s@trade-24.com
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