Sideways consolidation extending | 19 Diciembre 2013

19 Diciembre 2013, GBP/USD

Cable has recovered and risen back up within its consolidation range after falling to the range lows at 1.62225. It has found resistance at 1.64325 and pulled back a little. There is a possibility the pair will simply continue in a sideways market mode from now on, rotating at the present highs and falling back down to the range lows at 1.62675. A break below the 1.63425 column lows would help to confirm such a move. Alternatively, given the consolidation is now quite extended a breakout higher is also highly likely, and eventually highly probable, given the dominant bullish trend prior the consolidation. A move above 1.64625 could signal such a move higher, with an upside target generated from the base column of X's of 1.6740, although resistance is also at 1.6550.

Sideways consolidation extending

Mark Satcher
Analyst of «FreshForex» company
¿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.