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Forex, daily technical levels

GBP/USD

Cable after two consecutive weeks lost in value seems to be stabilized itself  to the first day of the week; we think the market is just waiting for the releasing news in the UK and US later this week. Technical levels the pair GBP/USD  is trading at this moment below our daily pivot point and also both the DMA 50 and DMA 200. A break out the daily PP could lead the price action to the supply zone at R1 1.3246x, from there the next big hurdle is our DMA200, at which the prices still have been trading below since weeks. To the down side, S1 and S2 are possible levels for cable to make a further swing low.  Take your look at the table and depicted chart below for more reference in the details:

Date 

 

Supply

 

Demand

Pivot Point

DMA50

DMA200

Monday, October 30, 2017 R1 1.32444 S1 1.30354 1.31570 1.31751 1.33011
R2 1.33668 S2 1.29473
R3 1.3453 S3 1.28265

USD/JPY

USD/JPY is at this current time trading below our daily PP at 113.833. The supply zone at R1 114.3xx seems to be difficult to break out, for the market is also waiting for the coming releasing news in Japan and U.S. tomorrow and later this week. On the upside for USDJPY, 115.xxx handle is still possible. On the downside, 112.5xx could be touched again. Take your look at the depicted chart and table below for more info:

Date 

 

Supply

 

Demand

Pivot Point

DMA50

DMA200

Monday, October 30, 2017 R1 114.35 S1 113.237 113.840 113.51 112.497
R2 114.962 S2 112.731
R3 115.46 S3 112.117

 

Trade well!

 

Makkaba team

 

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