Cable consolidating around 2.0105 US afternoon

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GBP/USD after a splendid downmove seems to have found consolidation with the 38% retracement level of the move having held about 2-3 times now. This market is rangebound at the moment and further confirmation is required for a reversal back up towards 2.0165 then 2.0200. Cable has tested 2.0070 which was the low of the day. Support/resistance at 2.0108, 2.0145, 2.0165, 2.0195, 2.0110, 2.0230. Downside 2.0075, 2.0045, 2.0025, 2.000

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This entry was written by Sam Beatson and posted on September 4, 2007 at 4:00 pm and filed under Forex Trading - US session, Market Analysis, Technical Analysis, Forex Trading. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

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