(1,5935) The CABLE confirmed a strong closing on Friday in the daily as well as in the weekly charts supporting a direct extension of the move up above the 1,59 level. Possible further strength suggesting a 1,60 overshooting where we expect however strong resistance. The slope of the move up is also getting a little too steep! The indicators of the daily chart are still well positive but start showing overbought conditions while forming potential negative reversals( don’t forget that in the daily chart we have bullish divergences suggesting that this move up is corrective even if we’re going to see a 1,60 overshooting!). The indicators of the s/t charts are also still positive but showing overbought conditions. We sell a direct 1,60 overshooting!!
Read the full report: GBPUSD 09.16
Future Trend