Last Update At 15 Sep 2021 00:42GMT.
Trend daily chart
21 HR EMA
55 HR EMA
Trend hourly chart
Near term down
13 HR RSI
14 HR DMI
Consolidation with downside bias.
1.3913 - Tue's 1-month high.
1.3891 - Prev. Sep high (3rd).
1.3830 - Tue's Asian low (now res).
1.3804 - Tue's low.
1.3754 - Last Thur's low.
1.3727 - Sep 08 low.
GBP/USD - 1.3807.. The pound moved narrowly in Asia n caught a bid at European open, price rose fm 1.3830 to 1.3882 n briefly jumped to 1.3913 after soft US CPI but only to tumble to 1.3804 on cross-selling in sterling.
On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven usd's demand following free fall in global stocks, price rallied to 1.3686 on the last trading day of 2020 following a last-minute EU-UK trade deal, then to a near 34-month 1.4241 peak in late Feb suggests a major low is made. Despite hit- ting a 3-year peak of 1.4250 on Jun 01, selloff to as low as 1.3753 in Jul con- firms long-awaited correction has occurred. Cable's rally to 1.3983 (Jul), then back down to 1.3602 in Aug n subsequent rally to 1.3913 Tue suggests choppy trading abv 1.3573 would continue n may head twd 1.3983, abv, 1.4040/50.
Today, as Tue's 1-month peak at 1.3913 was accompanied with bearish diver gences on hourly indicators, subsequent selloff to 1.3804 signals upmove fm 1.36 02 (Aug) has formed a top n would head to 1.3750 but o/sold readings on hourly oscillators would keep price abv 1.3721 (61.8% r). Abv 1.3856 risks 1.3888/91.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.