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Cable Consolidates Above Fresh 31-Year Low, With 1.3000 Barrier Capping For Now

Discussion in 'Technical Analysis' started by Kaitlin, Jul 6, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Cable dipped to fresh 31-year low at 1.2795 on bearish acceleration through strong supports at 1.3118 (former low) and 1.3030/00 (Fibo 76.4% of 1.0520 to 2.1161multi-year rally psychological support). Fresh bearish action confirmed an end of short consolidation phase above former post-Brexit low at 1.3118, which was capped at[​IMG]

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