The Reason Behind The Cable Pair Downward Trend.

The cable pair has faced a slight decrease until it touched the support line 1.3776; due to the Office for National Statistics’ report about the consumer prices (YoY), which has appeared to be less than the expected percentage by 0.1%, in addition to the appearance of the reversal pattern of double top which may affect the pair and make it decline by 0.23%, therefore, the pair is expected to break the first support line 1.3739 to reach the second support line 1.3733 then the third support line 1.3722, on the contrary if positive news affected the pair it will rise and breach the first resistance line 1.3812 to reach the second resistance line 1.3827, but it’s unlikely to breach it.