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GBPUSD - Rising Tenkan-Sen Underpins Fresh Attempts Higher

Discussion in 'Technical Analysis' started by Kaitlin, Sep 13, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Cable bounced to 1.3344 high on Monday, following repeated failure to break below daily Tenkan-sen support. Monday’s bullish close that also occurred above 1.3319 (Fibo 23.6% of larger 1.5015/1.2795 fall) generated positive signal for further retracement of 1.3443/1.3232 downleg. Near-term action consolidates within 1.3300/1.3344 range, with good support at 1.3300[​IMG]

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