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Cable - Near-Term Price Action Consolidated Above 1.3057 Low, Outlook Remains Negative

Discussion in 'Technical Analysis' started by Kaitlin, Aug 30, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The pair retested Monday's one-week low at 1.3057, after initial recovery attempts were capped by broken daily Kijun-sen line at 1.3116. Near-term technical are negative, while prevailing tone of daily studies is bearish and favors further easing. Initial target lies at 1.3022 (19 Aug trough / Fibo 61.8% of 1.2864/1.3277 upleg), ahead of psychological 1.3000 support.[​IMG]

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