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Cable extends gains against the USD

Posted on October 14, 2009 at 3:12 in Intraday Techs, Medium & Long Term Techs by César B. Leiceaga

GBP/USD rebound from the 38,20 % fib retracement belonging to the move from 1,3510 - 1,7043 has sorted out a short term bottom for the pair.(see daily chart).

Bulls are now attacking the bearish trendline resistance, a break above could trigger a rally towards 1,6120 resistance and determine overall bias. (see 4 hour chart).

Daily & 4 hour Charts.

César B.Leiceaga.

Tags: cable, dollar weakness, gbpusd, gbpusd 4 hour chart, gbpusd dauly chart, gbpusd intraday analysis

2 Responses to “Cable extends gains against the USD”

  1. on 14 Oct 2009 at 4:52 am1A.SOLTANI

    DEAR CESAR

    Although your nice statement may be correct and it is a strong alternative.there is another alt. the resent upmove at 6023 is 78.6% wave i (6117-5710) exactly touch EMA100,Daily sma20 & MT trendline & upband of BB. & H1 stc. turndown.
    so if surely candles appear ,I will take a short trade.

    REGARD

  2. on 15 Oct 2009 at 2:47 am2César B. Leiceaga

    Dear A-Soltani,

    Sorry for the delay… I had no internet connection yesterday and I’ve spent all day fixing it.
    I’ve updated my view on G/U.

    Regards.

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