On the hourly chart cable has completed a bullish 'flag' pattern, suggesting the recent consolidation phase could be at an end
Pepperstone
On the hourly chart cable has completed a bullish 'flag' pattern, suggesting the recent consolidation phase could be at an end. Importantly the pair has found support and rallied off the 38.2% retracement of rally from the recent 1.6251 to 1.6823 move. Momentum indicators on the daily chart also look bullish and therefore this pullback could be a good buying opportunity. Fundamentally it should be a busy night for sterling traders with Q4 (preliminary) GDP out at 20:30 AEST (no change expected at 2.8% annual growth), business investment, private consumption and exports. On the USD side of the equation we get new home sales.
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...