Forex - Chart USD/TRY Update: Gains fading shy of 5.8000

 17:16 (GMT) 28 Nov

  [Forex Charts]

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Chart USD/TRY Update: Gains fading shy of 5.8000 (0101-PVSC-C01)

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Asterisk denotes strength of level

16:35 GMT - Anticipated gains are meeting profit-taking just shy of 5.8000, whilst overbought intraday studies unwind. Focus is on the 5.7515 intraday MA and congestion around 5.7500. A close beneath here will add weight to sentiment and turn price action cautiously Negative as further congestion around 5.7000 and the 5.6900 Fibonacci retracement then attracts. Meanwhile, a close above 5.8000 will confirm continuation of the November rally and turn sentiment outright Positive.

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