Sideways move continues | 17 December 2013
17 December 2013, GBP/USD
Cable continues in a sideways consolidation, in the middle of a strong up-trend. It has fallen within its range to the just below the 1.62975 lows but has now paused to consolidate. It will probably eventually bounce from the current level as the dominant up-trend resumes. The next target would be the range highs at 1.6440, however, for a move to evolve up to there would require a stronger bullish reversal and a move above 1.63425.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
