Thursday, 21 February 2013

GBPUSD....Touch down !.. Is this a turning point

I am not sure if this is a new low but we have seen poor old cable hit hard recently. When any major forks CL is hit it is not unusual to see a bounce. Its the strength of this bounce that will determine if we have a new low pivot.
Here it is in Esignal with the horizontal ML belonging to fork AA/B 94.M... they dont get much bigger and important than this one which has provided support in the recent( viz a viz weekly TF since 2009) sideways pattern along this 'base' line.see below:

No comments:

Post a Comment