Cable Analysis from 10 Dec 14h20 Paris time

Daily

Cable on daily chart is showing that we have probably found a temporary mailto:bottom@%201.4465 the 4 Dec08. Since we have been boucing , and we are in a kind of triangle(purple one).

We could also imagine that we made a bouble bottom at 1.4557(11/13/08) and 1.4465 but nothing are telling us the current trend.

We have to wait the break of 1.4880 before something on the upside, and we have to wait the bounce to 1.4676 on the downside to know if we resumed the trend. If we are breaking the lows of last month and from this month, the target will be 1.4036.

On ichimoku, the Sen are still playing in favor of the downside, the chinkou Sapn is still showing us a bearish trend.

Every indicators are showing a downtrend. We saw a devaluation in 4 month of the pound, even if the downside movement started 1 year ago.

The moving average (EMA 50 and 200) have crossed and are indicating a bear trend too.MACD is in downtrend territory while RSI is swiming in the oversold area.

Weekly

As we were talking on the daily analysis, the area of 1.4550 seems to be the key for a new low, and a test of the important level of 1.4040.

Ichimoku is also indicating a downtrend like on daily analysis.

EMA 50 and EMA 200 have crossed to the downside at the begining of november 08, last time we crossed to the upside was in 2002, so weekly are showing that we could enter in a long bear trend.

It s funny cause there is only a trend which is bear, and MACD and RSI are also showing a downtrend

Monthly

All indicators are showing a downtrend, except the EMA

What is interesting on monthly chart it s the orange line 1.4040 which is playing the role of an important support level.

In graph if we break 1.4550 to the downside, the trend will stay more clear, and the test of 1.4040 will be on the pipe.If 1.3680 is broken too, we could imagine that we will take the stairway to test the 1.07 area the lowest point from 1985.....

But a bounce is possible on a short term

According to my points I am long Cable from 1.4862 SL at 1.6800