RSS Cable Dips Further After Weak UK Data, Consolidation May Precede Fresh Push Lower

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 RSS Cable Dips Further After Weak UK Data, Consolidation May Precede Fresh Push Lower

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GBPUSD fell further on Friday, holding in red for the third consecutive day, driven by stronger dollar and additionally pressured by unexpectedly weak UK Oct GDP numbers. Fresh weakness tested support at 1.2618 (last week’s low / 100WMA) and pressure nearby Fibo support at 1.2610 (61.8% retracement of 1.2487/1.2811 upleg), where bears faced headwinds. Near […]

The post Cable Dips Further After Weak UK Data, Consolidation May Precede Fresh Push Lower appeared first on Action Forex.
 
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