How Low Cable
Cable's sell off ensues on the negative news flow from UK banks (latest round of govt nationalization dubbed as insurance and flurry of realized/unrealized banking losses). GBPUSD shrugs the improvement in risk-seeking trades in FX (seen in yen selling) and extends losses towards a 5-week low of $1.3860, which coincides with the 76% retracement of the $1.35-$1.4997 move. A break below this level is to make way for fresh downfall into the $1.3650. $1.3990 and $1.3960 will emerge as key resistance levels in the days ahead.
Jan 11, 2023 10:57 | by Ashraf LaidiIf the DAX40 maintains its habit of extending 13% above its 200 DMA, then current upside may extend to as high as 15300, just below the 76% retracement of the decline from the Jan 2022 high to...
Dec 6, 2022 14:34 | by Ashraf LaidiWe know the DXY is highly correlated with USD/CNH so if the Head-&-Shoulder on USD/CNH formation proves valid, then further USD downside lies ahead. ..
Nov 12, 2021 12:55 | by Ashraf Laidihttps://www.binance.com/en?ref=13288560...