Slobodan Drvenica
Windsor Brokers
GBPUSD
Sterling spiraled to fresh one-week low vs dollar, after dovish comments from BoE’s chief Carney, who pointed to UK borrowing costs remaining on hold until 2017.
Sharp acceleration took out strong support at 1.5240, 29 Oct low, that confirmed lower platform at 1.5505, formed by several upside rejections.
Extension below 1.5240 handle, face one significant obstacle en-route to key 1.5105 support, low of 30 Sep, which lies at 1.5200, Fibonacci 76.4% of 1.5105/1.5506 upleg and 13 Oct spike low.
Daily close below 1.5258, broken Fibonacci 61.8% of 1.5105/1.5506 upleg, to confirm an end of bull phase from 1.5105 and bring the latter in full focus.
South heading daily slow Stochastic that reversed earlier on approach to oversold zone, shows more room towards the downside, as oversold near-term studies, do not show reversal signals yet.
Corrective rallies should be anticipated in the near-term, with initial barrier at 1.5311, daily 30SMA, ahead of 200SMA at 1.5339, which is seen as ideal limit. Falling daily Ichimoku cloud base that maintains the downmove and marks breakpoint, lies at 1.5396.
Res: 1.5285; 1.5311; 1.5339; 1.5396
Sup: 1.5221; 1.5200; 1.5160; 1.5105
Sterling spiraled to fresh one-week low vs dollar, after dovish comments from BoE’s chief Carney, who pointed to UK borrowing costs remaining on hold until 2017.
Sharp acceleration took out strong support at 1.5240, 29 Oct low, that confirmed lower platform at 1.5505, formed by several upside rejections.
Extension below 1.5240 handle, face one significant obstacle en-route to key 1.5105 support, low of 30 Sep, which lies at 1.5200, Fibonacci 76.4% of 1.5105/1.5506 upleg and 13 Oct spike low.
Daily close below 1.5258, broken Fibonacci 61.8% of 1.5105/1.5506 upleg, to confirm an end of bull phase from 1.5105 and bring the latter in full focus.
South heading daily slow Stochastic that reversed earlier on approach to oversold zone, shows more room towards the downside, as oversold near-term studies, do not show reversal signals yet.
Corrective rallies should be anticipated in the near-term, with initial barrier at 1.5311, daily 30SMA, ahead of 200SMA at 1.5339, which is seen as ideal limit. Falling daily Ichimoku cloud base that maintains the downmove and marks breakpoint, lies at 1.5396.
Res: 1.5285; 1.5311; 1.5339; 1.5396
Sup: 1.5221; 1.5200; 1.5160; 1.5105
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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