Slobodan Drvenica
Windsor Brokers
GBPUSD
Cable consolidates above session low at 1.4250, hit on disappointing UK inflation data, which did not show stronger impact on the pair.
Dip was contained by Fibo 38.2% of 1.3834/1.4512 recovery, with recovery attempts so far unable to clear initial barrier at 1.4313 (Fibo 23.6% of 1.4512/1.4251 downleg, reinforced by 10SMA), which guards strong resistance zone at 1.4350/60 (Fibo 38.2% / hourly consolidation floor).
Daily technicals show more room at the downside and maintain pressure, after the pair returned below daily Ichimoku cloud base at 1.4440.
RSI and Momentum turned lower, as Slow Stochastic reversed from oversold territory, generating bearish signal.
Support at 1.4250 is reinforced by daily 30SMA at 1.4236, loss of which to look for extension towards 1.4185 (20SMA).
Session high at 1.4395 and Fibo 61.8% of 1.4512/1.4251 at 1.4412, mark pivotal barriers, regain of which is needed to neutralize near-term bears.
Res: 1.4313; 1.4360; 1.4395; 1.4412
Sup: 1.4250; 1.4236; 1.4185; 1.4120
Cable consolidates above session low at 1.4250, hit on disappointing UK inflation data, which did not show stronger impact on the pair.
Dip was contained by Fibo 38.2% of 1.3834/1.4512 recovery, with recovery attempts so far unable to clear initial barrier at 1.4313 (Fibo 23.6% of 1.4512/1.4251 downleg, reinforced by 10SMA), which guards strong resistance zone at 1.4350/60 (Fibo 38.2% / hourly consolidation floor).
Daily technicals show more room at the downside and maintain pressure, after the pair returned below daily Ichimoku cloud base at 1.4440.
RSI and Momentum turned lower, as Slow Stochastic reversed from oversold territory, generating bearish signal.
Support at 1.4250 is reinforced by daily 30SMA at 1.4236, loss of which to look for extension towards 1.4185 (20SMA).
Session high at 1.4395 and Fibo 61.8% of 1.4512/1.4251 at 1.4412, mark pivotal barriers, regain of which is needed to neutralize near-term bears.
Res: 1.4313; 1.4360; 1.4395; 1.4412
Sup: 1.4250; 1.4236; 1.4185; 1.4120
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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