Daily Forex Technicals |
Written by Windsor Brokers Ltd |
Nov 18 16 10:12 GMT
Cable was lower on Friday amid broader dollar’s strength and dipped close to key near-term support at 1.2375 (15 Nov low, reinforced by daily Kijun-sen line). The pair traded within 1.2400/1.2500 range in past two days on mixed daily studies, being resilient on recent dollar’s strength.
Near-term studies are entering bearish mode and firm break below 1.2375 handle could trigger fresh weakness for attack at near-term breakpoint at 1.2350 (09 Nov post-US elections low), loss of which is needed to revive daily bears for extension towards next strong supports at 1.2306/21 zone (Fibo 61.8% of 1.2081/1.2671 / 30 SMA).
Selling upticks towards daily Tenkan-sen line (1.2511) is favored, while sustained break here would neutralize downside threats and shift near-term focus higher.
Res: 1.2430, 1.2453, 1.2474, 1.2511
Sup: 1.2375, 1.2350, 1.2321, 1.2306
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GBPUSD - Test Of Tenkan-Sen Support At 1.2375 Shifts N/T Focus Lower
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