Last Update At 07 Oct 2015 00:11GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
1.5208
55 HR EMA
1.5189
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
64
14 HR DMI
+v3
Daily Analysis
Sideways
Resistance
1.5330 - Sep 15 low, now res
1.5290 - Sep 24 high
1.5245 - Mon's high
Support
1.5181 - Y'day's European morning high (now sup)
1.5137 - Mon's NY low (Reuters)
1.5107 - Last Wed's n Thur's fresh 4-1/2 month trough
. GBP/USD - 1.5128... Despite trading sideways in Asia y'day following early fall fm 1.5245 (Fri) to 1.5130 on Tue, intra-day gain in euro lifted the pound n price later rallied to 1.5244 due to dlr's broad-based weakness in NY.
. On the bigger picture, despite cable's rebound fm last week's 4-1/2 bottom at 1.5107 to 1.5238 Fri n then marginally higher to 1.5245 Mon, subsequent retreat suggests as long as said reaction high holds, the early erratic decline fm Jun's 7-month peak at 1.5930 to correct medium-term rise fm 2015 near 5-year bottom at 1.4566 (Apr) would pressure price to 1.5087/1.5088, being 61.8% r of aforesaid rise n May's low respectively. However, as both hourly & daily technical indicators would display 'bullish convergences' on such move, reckon psychological level at 1.5000 would hold on 1st testing this week n bring rebound later. On the upside, a daily close abv 1.5261 would signal temporary low is made, risk stronger gain to 1.5290, break would extend twd 1.5330.
. Today, as cable has maintained a firm undertone following y'day's rally to 1.5244, buying on dips for intra-day trade is favoured but abv 1.5261 needed to extend twd 1.5290. Below 1.5181 anytime signals top is made, 1.5130/40 later.
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