Pound retreat from 1.6600/15 in late August extended yesterday weighed by strong risk aversion, to test July lows at 1.5775 area and, unable to break lower, the pair picked up on US session, to consolidate between 1.5825 and 1.5870 during Asian session.
On the downside, immediate support lies at 1.5760 (July 12/Sept 12 lows), and below here, 1.5745 (Jan 25 low) and 1.5665 (Jan 2 high). On the upside, resistance levels lie at 1.5892 (Sept 12 high) and above here, 1.6000 (Sept 9 highs/Psychological level) and 1.6085 (Sept 8 low).
The Pound is bouncing up from oversold levels.
By
M.Zohaib Gadit
Forex Trading Consultant
On the downside, immediate support lies at 1.5760 (July 12/Sept 12 lows), and below here, 1.5745 (Jan 25 low) and 1.5665 (Jan 2 high). On the upside, resistance levels lie at 1.5892 (Sept 12 high) and above here, 1.6000 (Sept 9 highs/Psychological level) and 1.6085 (Sept 8 low).
The Pound is bouncing up from oversold levels.
By
M.Zohaib Gadit
Forex Trading Consultant
No comments:
Post a Comment
Feel free to comment.