GBPUSD: Neutral
|GBPUSD: 1.3261
Preferred Strategy: Cable has had a wild ride on Thursday, initially heading lower on due to the UK payment impasse before spiking higher on speculation that the EU may offer Britain a two-year transitional Brexit deal. Currently at 1.3260, the charts are mixed. With so many balls in the air, including the chance of a November rate hike from the BOE, I am avoiding Sterling right now but the dailies are still pointing lower, so overall, in line with the stronger dollar scenario, I prefer to look for areas to sell into.
| 24 Hour: Neutral | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.3415 | (61.8% of 1.3656/1.3026) | 1.3220 | Minor |
| 1.3375 | Minor | 1.3190 | 100 HMA |
| 1.3340 | (50% of 1.3656/1.3026) | 1.3150 | Minor |
| 1.3325 | 100 WMA | 1.3120 | Session low |
| 1.3290/92 | Session high/4 Oct high | 1.3100 | Minor |
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