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Oct 23

TECHNICAL ANALYSIS BY NSFX 23.10.2013

By:

High:  Low: 

The cable is retracing after yesterday positive session that lead to form a double top pattern and today is off 90 pips from area 1.6255.  In case the pair should continue to fall the first test would be in area 1.6086 and if this dynamic support would fail then the static support at 1.59 is important because will give an answer whether the double top can be confirmed as reversal. If  the pound should gain ground the first resistance area is, of course, area 1.6255 and then 1.6309.

R3
R2
R1
S1
S2
S3