FXstreet.com (Barcelona) - Cable continued moving in a narrow range today, the ActionForex Technical Team considers tat the downside momentum has diminished: Outlook remains unchanged. Downside momentum continues to diminish as seen in bullish convergence condition in 4 hours MACD and RSI. While further decline could be seen, downside is still expected to be contained by 1.9337 low and bring rebound. On the way up, the ActionForex Team foresees: Above 1.9636 resistance will be the first alert that whole corrective fall from 2.0391 has completed. Further break of the falling trend line resistance (now at 1.9764) will add more credence to this case and bring stronger rally towards 2.0029 resistance first.
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