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Cable breaking down

Posted on September 24, 2009 at 3:22 in Intraday Techs, Medium & Long Term Techs by César B. Leiceaga

Pound crosses breaking down GBP/JPY pushing through previous low testing support at 147,00, towards 200 SMA on Daily chart at 145,90 - 146,00 zone. Needs a close below 146,60’s to confirm double top. Note RSI daily conditions in oversold conditions.

GBP/USD capped by 1,6465 (SMA overlap and 50% Fib resistance) headed for 1,6133 previous low.

Meanwhile EUR/GBP rebound from 0,8980 and retesting 61,80% FIB from the whole drop 0,9495 - 0,8400 at 0,9080 relevant resistance. If cable’s weakness persists the pair might easily break 0,9100 and could be facing next resistance at 0,9238.(76,40% FIB).

GBP/JPY Daily Update, GBP/USD 4hour & EUR/GBP Daily:

César B.Leiceaga

Tags: cable, eurgbp, gbpjpy, gbpusd

2 Responses to “Cable breaking down”

  1. on 24 Sep 2009 at 3:45 am1carlab

    Cesar, buenos días.
    Creo que la STG va a seguir debilitándose. Pero creo que la movida fuerte ha de ser contra USD, una vez rompa el 1.61, HCH con objetivo mucho más bajo. EUR/GBP se ha parado en el 50% fibo desde max .98 a 0.84. Creo que va a aguantar y corregir algo. O es sólo wisfull hinking para una gran caída del eur/usd? Suerte

  2. on 24 Sep 2009 at 12:32 pm2César B. Leiceaga

    Hola carlos,

    Enhorabuena por tu posición corta en la libra. Hoy hemos podido ver como saltaban stops en EUR/GBP y extendian el movimiento más allá de lo esperado. A las manos fuertes les gusta hacer este tipo de movimientos para sorprender a los traders y de paso limpiar sus cuentas si pueden. Creo que es el principio de la esperada corrección veamos la profundidad de la misma.

    Un saludo y suerte

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