Cable will continue its downtrend !!

FX:GBPUSD   British Pound / U.S. Dollar
I am pretty much convinced after yesterdays 17th Dec 2014 Bearish day candle engulfing (Marubuzo candle) the range that GBP/USD             has been consolidating in since 14th November and that cable has continued its downtrend.

Based on ABCD Fib extension there is more downside to be seen. Price should continue testing the outer trend line creating Lower Highs. Price has had some strong pressure to the upside due to the Demand zone highlighted in GREEN. This is where institutions have placed long orders due to the cheap Sterling-USD. The first Demand Zone was created in August 2013 where price rallied-drop-rallied creating a strong DZ.

The second Demand Zone is where my Fib D extension target is. I am expecting price to hit 1.5260
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out