FXStreet Karen Jones, head of Technical analysis at Commerzbank, explained that the Outlook for the Cable is bullish as it is above the 200-day line (act. in 1,2601) is listed.
The Sterling reached in the previous week, the 55-week line in 1,2966. There was consolidation, which means that caution is appropriate. The recent High was accompanied by a divergence on indicators based (RSI). The market should, however, under the Low of the 21st century. April slides in the case of 1.2760, to negate the upward pressure. In the medium term, we will remain in this currency pair is bullish as long as it can hold the 200-day line at around 1,2601. To the psychologically important mark of 1.3000 is likely to run out of the currency pair, the blow – at least temporarily.
Slipping under 1,2601 losses in the direction of 1,2515 (Tief 18. April) and 1,2347 (February low) to provoke.
** FXStreet News Editorial, FXStreet**