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Cable spiralled below 1.42 after US NFP data

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBPUSD Cable eventually accelerated lower, after past two-day trading that showed relative hesitation for stronger pullback, after upside rejection at 1.4457. Repeated long-legged daily candles confirmed the notion, with stronger bearish acceleration being triggered by dollar-supportive US data and persisting Brexit fears. Fresh bears probe below 1.42 handle, after returning below daily Ichimoku cloud base at 1.4238 and Fibonacci 61.8% of 1.4056/1.4457 recovery rally. This gives strong bearish

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