The Pound
versus the Dollar has been in a bearish trend and has been breaking key support
levels consistently. However, we can see on the daily chart of the GBP/USD that
when the price reached the 1.5100, the momentum has lost strength. The
relatively long lower shadow of the last couple of daily candles is another
indication that buying interest may be rising. Non the less, tomorrow we have
the non-farm payrolls report out of the US, and if the number comes out better
than expected, then the Dollar may strengthen and the pair may reach the
1.5000.
Very nice tip I'll be watching Cable like a hawk.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteThat hammer candlestick is very telling.
ReplyDeleteGood analysis. Tks!
ReplyDeleteI will keep eye on Cable.
ReplyDeletegreat analysis
ReplyDeleteInteresting analysis.
ReplyDelete