FXstreet.com (Barcelona) - After going through a downward correction after having being rejected at the 1.4950 resistance level, cable has found support at 1.4700 level and it has begun to rise to go above 1.4800 level and reach 1.4860. Currently the pair is trading around 1.4840/50 after rising 0.50% so far today from opening price.
Valeria Bednarik, FXstreet.com collaborator, says: Pair accelerated to the downside and reached the 50% of the past up leg, breaking an ascendant trend line and giving signals of further falls with momentum cutting the 100 line in a quite vertical way. 1.4680 where we have the 200 EMA and the 61.8% retracement, should hold the downside at least in a first attempt. Clear break under will signal further losses in the pair today. Support levels: 1.4730 1.4680 1.4610. Resistance levels: 1.4780 1.4820 1.4869.
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