SUPPORT: 1.2080/65  1.2040    1.1995   1.1970/60**   1.1925   1.1890   1.1855   1.1810

RESISTANCE: 1,2125 1.2145   1.2199   1.2221/25   1.2245/50   1.2265

So much for stability in Sterling...It has been hammered these past 3 days....and this is against all currencies...No one is love Cable at the moment...and whilst the pressure seems still to be on the downside I think we either leave it alone...or got with the trend,.. and start to sell into any short term corrective moves higher....Now we know we have support down at  1.2080/65 area and if lost we have a small trendline coming in at the 1.2000/1.1995 area...Now we should then  be protected on longs if we break 1.1960...The reason I have picked this level is that on the flash finger decline this was the actual low...Now 118....117...or even in some cases 112...It was 1.1970...so therefore we need to be aware that fund managers...banks...corporates and institutions pension or otherwise will have their eyes peeled on this support...Now you might well get a bit of follow through as stops are likely to go off...but unless really we break and hold below 1.19I think we will see buying coming back into the market....even if for only a short time... Our Pivot Point analysis is as follows  PP  12188   R1   12252   R2   12334   R3   12398   S1   12106   S2   12042   S3 11960.....Notice the S3 comes in at the designated support area....so please be aware of this support and we would be buying small down in the 19990/19960 area looking for a short term correction....

GBPUSD

 

GBPUSD Current Trading Positions

Sell 100%
Buy 0%
100.0%100.0%0-1001020304050607080901001100
Avg Sell Price 1.2415
Avg Buy Price 0.0000
Liquidity Distribution
1.20901.22531.24701.20901.22531.2470SellBuy

 

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