fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP Fri Dec 13, 2013 11:25 am | |
| Technical Analysis for GBP The pair moved sharply to the downside stabilizing below key support level of the ascending channel and around 23.6% at 1.6315. The downside move might extend and Linear Regression Indicators are showing this possibility by breaking the support level of the ascending channel. It is significant to trade below 1.6315 to confirm the intraday downside move today. Support: 1.6330, 1.6305, 1.6260, 1.6230, 1.6200 Resistance: 1.6365, 1.6410, 1.6475, 1.6515, 1.6550 Recommendation Based on the above, sell the pair below 1.6350 targeting 1.6315, 1.6260 and 1.6230, stop-loss above 1.6410 | |
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