The cable in corrective mode | 07 Diciembre 2016

07 Diciembre 2016, GBP/USD

The cable in corrective mode

Wave Analysis:

Yesterday, the cable traded long but could not go beyond the daily resistance level 1.2743. From the current chart set up, it seems the momentum to the upper side is diminishing. And, although there’re signs of reversals from this level, we’re waiting for confirmations to go short towards the lower trend line. This view can only be rendered futile in case the pair end up breaking above the previous day’ s highest high, 1.2773, If the latter is the case, then an acceleration towards 1.2981 is inevitable. In the meantime, we hold onto a bearish bias in this pair. Expect a similar price action in EUR/USD, GBP/HKD and an exact opposite price action in USD/JPY, EUR/JPY, USD/CHF and AUD/JPY.

Trade Recommendations:

Expect a possible bearish price action towards 1.24044.

Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus