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
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