R3: 2.0000

R2: 1.9980

R1: 1.9950/60

Current Price: 1.9875

S1: 1.9820/30

S2: 1.9750

S3: 1.9720/30

Rate has strong sell signal this morning after technical failure on the last rally leaves the rate vulnerable to a sell-off. Lows today supported by the 50 bar MA but stops now likely building in-range between the 1.9830/40 and 1.9780 area as short-term longs place orders. Big stops under the 1.9720/30 area still working and likely to be tested this week. BOE rate cut expectations are high and could get a buy rumor/sell fact rally; close today under the 100 bar MA a good sign for shorts.

Analysis by: written by Jason Alan Jankovsky


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