Slobodan Drvenica
Windsor Brokers
Cable met its target and strong barrier at 1.3266 (Fibo 38.2% of 1.3655/1.3026 descend) on Thursday as recovery rally from 1.3026 low extends into fourth straight day. Softer dollar on Fed's divided view on inflation helped pound but bulls face headwinds at 1.3266 pivot and the pair may stay some time in consolidation before fresh attempts higher. Broken 10SMA which now acts as initial support at 1.3214 and top of thick daily cloud at 1.3200 are expected to contain dips. Otherwise, stronger bearish signals could be expected on sustained break below 1.3200/1.3175 supports.
Res: 1.3266; 1.3318; 1.3341; 1.3400
Sup: 1.3225; 1.3214; 1.3200; 1.3175
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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