New York Session Watch - GBPUSD GBP/USD broke the 1.6540 support level in todays London session. The long term and short term trend is still down as all the short term moving averages (10 and 20) are below the long term moving averages (50,100 and 200) and the Tenken-sen is firmly below the Kijun-sen and the Chikou span is below the candlesticks as well which shows more bears are in this market. The MACD declined significantly which indicates the market is picking up its downside momentum. Besides, the parabolic SAR indicator is moving in a strong bearish fashion as well which add odds to the short sellers. The current support level is at 1.6490 and resistance at 1.6540. Theres also an inside bar candlestick pattern printed on the chart which could provide short opportunities in todays New York session if price breaks below the low of this inside bar candlestick pattern. READ the full article HERE: on.fb.me/TtU5om #forex #gbpusd - on.fb.me/TtU5om
Posted on: Tue, 02 Sep 2014 13:45:42 +0000
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