fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP Thu Jan 16, 2014 10:05 am | |
| Technical Analysis for GBP Several attempts to the downside and to break the key support of the ascending channel, and till now the pair is attempting to confirm breaking this support. We will wait to break 1.6310 to support the negative outlook and cancel positivity referred to yesterday. By examining the technical indicators, we notice clear negativity on Linear Regression Indicators, as RSI is trading in a downside move below line 50. Support: 1.6310, 1.6260, 1.6205, 1.6165, 1.6100 Resistance: 1.6365, 1.6405, 1.6465, 1.6515, 1.6550 Recommendation Based on the above, sell the pair by breaking 1.6310 targeting 1.6260, 1.6205 and 1.6165, stop-loss above 1.6405 | |
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