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Cable bounced back to strong 1.5506 barrier on upbeat UK data

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD Near-term structure weakens after repeated failure to clear daily 10SMA at 1.1362, with yesterday’s close in red and fresh extension lower, pressuring near-term base and pivotal support at 1.1300/1.1290 zone. Near-term range bottom, reinforced by daily 20SMA, marks the breakpoint for extension of pullback from 1.1494, 15 Oct high, which would open next pivot at 1.1260, daily Ichimoku cloud base. On the other side, daily bulls remain in play for now, with oversold daily slow Stochastic,

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