A break above 1.6750 will nullify the pattern and probably argue for a move back above 1.70. A renewed failure at these levels will see the formation verified and argue for a swift move back towards 1.57
Cable technicals: the old H&S special
Sean Lee
05/11/2009 | 22:30 GMT
Most Popular
- In-line CPI report leads to a blockbuster day for US stock markets
- US November NFIB small business optimism index 101.7 vs 94.2 expected
- US stocks open higher led by the NASDAQ index
- USD/JPY sent for a spin but now moving higher as BOJ rate hike odds fade
- Brazil's central bank hikes rate to 12.25% (from 11.25% and vs. 12% expected)
- USD/JPY looks to US CPI report to potentially break ping pong range
- ForexLive European FX news wrap: USD/JPY sticks with the early bounce, ADP up next