CHART SCALE: Weekly


INDICATORS: Parabolic Sar, Money Flow Index, Linear Regression Slope


SUPPORT LEVELS : 1.3297


RESISTANCE LEVELS: 1.2081


PAIR ANALYSIS :


The Cable currency pair retraced the resistance trendline, the pair has been traded in a relatively convergence zone as indicated in Fig 2. The MFI and the Linear Regression Slope around -0.001 support the trendless tendency.
It could be considered the possibility in a trendless zone forecast between the two key levels at 1.3297 and 1.2209 . This evaluation can be supported analyzing the parabolic Sar and the chart analysis in fig 2 with the detection of a slightly bullish tendency . A bearish crossing at 1.2081 can validate a significant bearish domination. A bullish crossing at 1.3297 can validate a great bullish behavior . The analysis suggests the possibility to open a buy position with and TP at 1.3002. It can be formulated a forecast level price at 1.29298.



FIGURE 1 shows the trendlines




FIGURE 2 indicates the forecasting pattern and the possible retracement


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