Binary File Converter Did cable just become a short_ _ investing. com pound to usd

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Binary File Converter Did cable just become a short_ _ investing. com pound to usd

The last few weeks have been relatively strong for the venerable Cable as the pair has continued to be buoyant following a broadly negative streak for the US dollar. 100 Eur To Usd However, it appears that some sharp falls could be on the horizon given that a key ABCD pattern has just completed.

Despite the Cable bulls running rampant around the village over the past week, technical indicators are now signalling that a pullback could be looming for the currency pair. Number System Binary Taking a look at the hourly chart shows price action’s recent rampant push towards the top of the bearish channel. Binary Song Normally, such a bullish push would be welcome given my penchant


for Long Cable positions. Euros To Usd Conversion However, a closer inspection of the hourly chart shows a relatively clear ABCD pattern which commenced in early April and just completed the “D” leg today.

Additionally, the RSI Oscillator is also signalling some bearish moves afoot as the indicator trends steadily lower, away from overbought territory. Convert Jpy To Usd However, it should be noted that the stochastic oscillator stands in contrast to the recent pullback exhibited in RSI. Ip To Binary The 12EMA has also turned, in line with the falling price action, and is now trending lower heading towards a likely bearish cross with the 30 EMA. Usd To There is also a relatively clear bearish Gartley pattern whose completion coincides perfectly with the falling trend line.

GBP/USD Daily Chart

Subsequently, given the bearish technical indicators, there is plenty of scope for a retracement back towards the 38.2% retracement level around the 1.4190 mark. However, as always with the Cable, relatively wide stops are needed given some of the volatility that is likely to become apparent later in the week. The much watched UK Unemployment and Claimant Count rate is due out shortly and could be a game changer from a fundamental perspective. Therefore, watch those results closely lest they invalidate the technical aspects of this trade.

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Binary File Converter Did cable just become a short_ _ investing. com pound to usd

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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Binary File Converter Did cable just become a short_ _ investing. com pound to usd

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