21/11/14 GBP/USD rose due to Retail sales performing better month on month


dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast, GBP/USD projections, GBPUSD projections, MPC, monetary policy committee, forward guidance, asset purchase facility Pound Sterling rose above 1.5700 momentarily as Retail Sales rose month on month

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast, GBP/USD projections, GBPUSD projections, MPC, monetary policy committee, forward guidance, asset purchase facility Trading sideways towards 1.563 support due to the lack of impetus in the market

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast, GBP/USD projections, GBPUSD projections, MPC, monetary policy committee, forward guidance, asset purchase facility Resistance at the 200 EMA on the hourly chart sees likely return to bearish movements.

The double retest of the week’s support at 1.5600 was not a strong enough indication to buy into long trades for Cable just yet as 1.5700 resistance holds firm. The downtrend on the hourly chart does not change in sentiment as resistance once again retests along the 200 EMA.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish1.5531.56001.5651.5741.5821.59001.57001.57461.556

    Share Your Opinion, Write a Comment