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Cable - Near-Term Action Holds Within Diamond Pattern, Fresh Direction Signals Awaited

Discussion in 'Technical Analysis' started by Kaitlin, Sep 29, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Cable eased quickly from session high at 1.3055 and dipped below 1.3000 handle, as near-term bulls were discouraged by renewed Brexit fears. Near-term price action has formed diamond bottom pattern which could signal reversal, if completed. Diamond’s upper boundary (bear trendline from 1.3118 high) capped today’s attempts higher, with sustained[​IMG]

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