Hello trader,
i just stare on my weekly chart above,current price for cable now breakout 3week range at 1.9650,this pressure accelerated to downside and for sure will hit 1.9580 sooner or later,while intraday chart say strong oversold condition,daily stochastic still heading down and penetrate 20.0 oversold level zone,weekly chart stochastic still healthy and show more progress to downside,in the nearer term,i should say cable would down a bit more toward 1.9580 and challenge 1.9529 high 11feb2008 before retacement.Upside should limited below 1.9650.Let mark our chart with the probability price target for selling pound,1.9580,1.9530,1.9480,1.9330,1.9140,1.8905 and 1.8522.And don't forget to mark potential resistance for pound when it bounce to rise,1.9650,1.9730,1.9830 and 1.9880.Okay trader you're most welcome to leave your comment or opinion.Have a nice day and good luck:D
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