Quote:
Originally Posted by djindyfx
Good to see you A. £ is dropping like a Rock while you were out.. You see a Hard bounce comming off of 1.9336?
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Hi DJ, Travels were OK.. thanks for asking. In my charts this pair is still bearish and no buying signal yet. Of course, it is oversold already, but you know Cable... it could be in overbought/sold conditions for a while. I think the rest of the world is helping the USD until next Ben's speech... ha,ha... OK, seriously, so far this pair is below the 61.2% of 1.9408-2.0152... that zone, 1.9690-1.9700 should hold to extend losses to 1.9400, but as the pair is oversold, perhaps we are having a bounce during FED news later today. Below 1.9850 I am still bearish.
for now, I don't see any "hard bounce" soon (but everything is possible)... I think major pairs are going to range for the rest of the year... markets need some breath... even, perhaps, high yield currencies are going to cut rates... as NZD has started. just my thoughts...
regards,
A.
