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sell gbpusd 1.6550 to 1.6460

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UR/USD's Latest Analysis (December 10, 2013): Some consolidation towards 1.3720 or more is expected. The support near 1.3715 may prove to be critical. A failure of the support may bring further consolidation towards 1.3640. On the upside the resistance is expected in the range of 1.3770 to 1.3785. We do not expect any break of this resistance today but even if that resistance fails we expect a fall from before the pair reaches 1.3820.

Current Exchange Rate: 1.3748 at the time of analysis update.

Outlook: Short-term (immediate / next): Down / Volatile sideways. Mid-Term (First / next): Up / Volatile sideways.

EUR/USD

bullish The outlook for EUR/USD stays bullish but resistance is expected to continue for some time at 1.3620. First level of support is expected at 1.3580 and if this support holds and a break over 1.3620 takes place then the pair should target 1.3680/1.3688 resistance. In case the support at 1.3580 fails then some more downward consolidation would be expected first towards 1.3555 to 1.3568 support zone. Any break below 1.3555 will make the short-term outlook neutral but the overall outlook will stay bullish as long as EUR/USD stays above 1.3490. - See more at: http://www.forexabode.com/forexblog/forex-fundamentals-and-news/forex-analysis/forex-daily-dose/fxdailydose-november-29-2013/ .OsRDGzVb.dpuf

USD/INR

Neutral USD/INR is moving in a very narrow sideways range for past 6 days. There is no change in our view about USD/INR and our outlook stays same as what we have been mentioning for past 2 days. To repeat the same: “Resistance is expected below 63.02 and with that some deeper moves may come, however as long as USD/INR remains between the support of 61.71 and resistance of 63.02, our outlook stays neutral. In fact even a break below 61.71 will be expected to come up against a very strong support at 61.50. As we have been mentioning that USD/INR is stuck between the psychological levels of 60.00 and 65.00 after failing to test 70.00. Note: Within next 6 months we expect a break below 60.00 to test 58.74/58.80 level.” - See more at: http://www.forexabode.com/forexblog/forex-fundamentals-and-news/forex-analysis/forex-daily-dose/fxdailydose-november-29-2013/ .OsRDGzVb.dpuf

USD/JPY

bullish USD/JPY crossed the target of 102.52 which we had indicated yesterday and touched 102.61 before losing some momentum and slightly retreating to 102.11. The current sideways action should find support at 101.93. In case that support breaks then some more consolidation may come towards the support zone of 101.15 to 101.43. Overall the remains bullish and in case of a break over 102.61 the pair should target , first 102.88 resistance and then possibly the recent peak of 103.73. - See more at: http://www.forexabode.com/forexblog/forex-fundamentals-and-news/forex-analysis/forex-daily-dose/fxdailydose-november-29-2013/ .OsRDGzVb.dpuf

FXDailyDose – November 29, 2013 Currency pair Near-term Outlook Comments - Overall Outlook USD/JPY USD/JPY crossed the target of 102.52 which we had indicated

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