Richard Perry
Independent Analyst
GBP/USD
Cable is looking to edge higher even amidst the uncertainty of a number of hugely significant fundamental factors weigh into the near term price action (Trump’s health and Brexit trade negotiations primarily). Cable moved higher on Friday with a sense that near term weakness still remains a chance to buy. We have previously talked of a pivot around 1.2860 and closing above here is still a gauge for the bulls to remain in control. An early consolidation today and newsflow is once more likely to be a driver. We still see the market trading under 1.3000 and until the bulls can break decisively clear, we only see a market lacking real direction.
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