Technical Analysis

Cable stalls out ahead of 1.2385 once again

Cable makes a series of lower highs

I don’t like the look of this short-term chart. Cable has now tried three times to get above the 1.2385 level and has made a series of lower highs.

In the bigger picture, the pound chart is looking solid as it rebounds from 1.20. But the latest push has stalled at the mid-July low of 1.2382. That’s not a huge barrier but it might inspire some caution, especially with politicians going on a break.
ForexLive

Articles You May Like

Crude Oil Price Outlook: Crude Catches Trendline Support – WTI Levels
EUR/USD to remain in a tight range – ING
How to download and Install Forex Profit Supreme System on MT4
Chinese premier Li Keqiang: China has confidence, ability to cope with risks, challenges
Live Forex Trading – EURUSD, AUDUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY

Leave a Reply

Your email address will not be published. Required fields are marked *