GBP/USD (1.8795)
DOLLAR RIDING A RUNAWAY MARATHON ON STERLING...
Cables cracked down from the level of 1.9074 and now it cracked the 1.8800 level too. Dollar is continously riding higher 1.8888. As of now still Cables is in search of new low for some sort of stability. The new low it found is at 1.8774. Letz wait and see how long it going to hold that low. Hourly RSI is at extremley oversold region. So Cables will make bottom at these levels or it may dip upto 1.8736. If the 1.8774 is the low then the first resistence comes at 1.8845 then at 1.8889 and then at 1.8924 and the vital one at 1.8959. The levels that i mentioned are the retracements from 1.9074 to the low of 1.8774 (300 pips). Right now it was just trading within the Downtrend Channel, recently it tried to penetrated the lower line of the Downtrend Channel.
DOLLAR RIDING A RUNAWAY MARATHON ON STERLING...
Cables cracked down from the level of 1.9074 and now it cracked the 1.8800 level too. Dollar is continously riding higher 1.8888. As of now still Cables is in search of new low for some sort of stability. The new low it found is at 1.8774. Letz wait and see how long it going to hold that low. Hourly RSI is at extremley oversold region. So Cables will make bottom at these levels or it may dip upto 1.8736. If the 1.8774 is the low then the first resistence comes at 1.8845 then at 1.8889 and then at 1.8924 and the vital one at 1.8959. The levels that i mentioned are the retracements from 1.9074 to the low of 1.8774 (300 pips). Right now it was just trading within the Downtrend Channel, recently it tried to penetrated the lower line of the Downtrend Channel.
posted by Naveen Pantera at 3:36 PM
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