(1,5820) The CABLE confirmed yesterday a session of consolidation interior the previous day’s range forming a new inside day with 1,5905 – 1,5795 the levels to follow in the coming hours. A break of the support will confirm further direct weakness probably also confirming the big double top above 1,63 suggesting a drop toward 1,53!! The indicators of the daily chart are still well negative but showing potential positive reversals. The indicators of the s/t charts are also negative with further bullish divergences confirming the negative tone. In the s/t only an hourly closing above 1,5885 will postpone further weakness favouring a rally toward the 200 hours line, now found at 1,5982. This move up is corrective and a selling opportunity for a move below 1,58!!
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Technical Analysis | January 23, 2013 |
GBP/USD
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