Posted on September 15, 2009 at 5:11 in Intraday Techs by César B. Leiceaga3 Comments »

U.K. CPI data determined cable´s direction and bears are now taking control of the situation. The 200 SMA and 61,80% Fib level 151,88 (1 hour chart) held bull’s intentions to push foward for a retest of 153,00 - 153,20’s.

Short & medium term trends point out a bearish scenario for the pair.

For intraday purposes I can spot oversold conditions on RSI and the sell off ceasing at 150,32 (76,40% Fib level from whole move 149,88 - 151,74)

César B.Leiceaga