GBPUSD: Fell to a 1-wk low at 1.3358
|GBPUSD: 1.3470
After a quick dip to 1.3319, Cable rallied strongly on the positive Brexit headlines regarding the Irish border, and if further progress is made then we may see a test of 1.3550 or even 1.3650.
1 hour/4 hour indicators: Up
Daily Indicators: Turning higher?
Cable fell to a 1-wk low at 1.3358 amid Brexit uncertainty, ending NY 1.3375
Weekly Indicators: Turning higher?
Preferred Strategy: It looks set to remain choppy for Sterling, with Brexit headlines likely to guide the direction, although right now it all looks quite positive so I prefer to trade from the long side, particularly in the crosses, i.e. long GbpAud, short EurGbp. Watch for the UK data later today…it could be a busy session for Cable.
| Resistance | Support | ||
| 1.3595 | 22 Sept high | 1.3430 | Minor |
| 1.3549 | 1 Dec high | 1.3380 | Minor |
| 1.3538 | 4 Dec high | 1.3319 | Session low |
| 1.3500 | Minor | 1.3295 | (50% of 1.3038/1.3549) |
| 1.3484 | Session high | 1.3280 | Minor |
Economic data highlights will include:
Manufacturing/Industrial Production, Trade Balance, NIESR GDP Estimate
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.