This pair has seen an impressive bull run from 107.65 to its current levels.It has however indicated signs of a potential reversal with its formation of rising wedge consolidation pattern.A successful break below this level will take us to the 23.6 % Fibonacci retracement of the price swing at 108.6,with a break below this level taking us to 108.294, the 50% Fib....
On the Hourly Chart,Cable has been unable to clear the Resistance at 1.27248 and is clearly headed lower after falling out of its recently formed uptrend channel at the same price level.
A break below the 38.2% Fibonacci Retracement of the 1.255 94-1.27630 price swing would inevitably indicate more weakness and would usher in to the 61.8% Fibonacci Retracement of...
On the Daily,price broke below major support at 0.88049 and is set to test the 78.6% Fibonacci Retracement of the 0.86904-0.8913 price swing.We expect price to head lower towards the 0.86904 price level after clearing this level to challenge the 22nd May 2019 low.Further decline could take us to the 161.8% Fibonacci Extension of the aforementioned price move at...
