Cable push through median lines
Following a receding threat of no deal brexit, the £ has had back to back +1% weeks & has finally broken through the key 60 RSI level for the first time since May (In downtrends 60 RSI is the key resistance in momentum).
After breaking 1 key median line last week, the pound followed through, breaking a longer-term median line & the January flash crash low.
Next resistance levels are the 38.2% retrace of the 2019 decline & the 100DMA.
After breaking 1 key median line last week, the pound followed through, breaking a longer-term median line & the January flash crash low.
Next resistance levels are the 38.2% retrace of the 2019 decline & the 100DMA.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.