CapMoore

Levels to watch after close right above strong support

FX:GBPUSD   British Pound / U.S. Dollar
147 0 3
After support by the Yearly Pivot Point and SMA200 price bounced during first half of Oct.
But price was capped by the 3rd quartile of pitchfork (green line) and 38,2 of CD and has again
challenged the 50% fib of CD leg and Pivot/SMA confluence, but without being able to close below the
level. During next week support stands at the lower horizontal Kumo cloud (1,59) and below
that level, the 61,8fib of CD (which also is in confluence with a kumo cloud horizontal line)
at 1,5820.
IF price close below 1,58 level chances are very good for a move towards D level and lower
Pitchfork band which will be a natural level for profittaking and likely strong support. To the upside,
price needs to close above 3rd quartile at 1,6130 and preferrably 1,62 to relief downside pressure. Above that
stands the Tenkan Sen at 1,6250 along with HR             from 2012/2013. Furthermore, on monthly chart lower Kumo cloud
support comes in at 1,5880 next month AND price closed below the Kijou Sen with 10 pips giving a neutral bearish
sell signal. This should give additional bearish pressure on lower tf, like the weekly and daily.
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