GBPUSD: A neutral stance seems wise again today and a range of 1.40/1.41
|GBPUSD: 1.4060
Cable traded a choppy session on Tuesday (1.4020/1.4088) but has generally been underpinned against the Euro following the better than expected UK Manufacturing PMI. The Services PMI will be the local focus ahead today.
1 hour/4 hour indicators: Neutral.
Daily Indicators: Neutral
Weekly Indicators: Turning Neutral
Preferred Strategy: A neutral stance seems wise again today and a range of 1.40/1.41 would seem to have it covered. Brexit headlines, both good and bad, are always around the corner and so a longer term cautious outlook it also required and right now there seem to be better things to trade.
| Resistance | Support | ||
| 1.4200 | 28 Mar high | 1.4020 | Session low |
| 1.4560 | 100 HMA | 1.4010 | 28 Mar low |
| 1.4130 | Minor | 1.4000 | Minor |
| 1.4100 | 200 HMA | 1.3977 | (50% of 1.3715/1.4243) |
| 1.4088 | Session high | 1.3950 | Minor |
Economic data highlights will include:
UK Construction PMI
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