Slobodan Drvenica
Windsor Brokers
GBP/USD
Cable rose above 1.29 mark on weaker greenback after US data and the latest Brexit Party news and holding firmly above 20DMA (1.2872) that generates initial bullish signal.
Fresh advance pressures pivotal barriers at 1.2920 zone (Fibo 61.8% of 1.3012/1.2768/ bear-trendline off 1.3012 peak/base of thin daily cloud), close above which would signal an end of 1.3012/1.2768 corrective phase and shift near-term focus higher.
The pair is on track for bullish weekly close that adds on positive signals for renewed attack at 1.30 zone, but caution is required as long as 1.2920 barriers cap. Return and close below 20DMA would be initial warning signal, while extension below 10DMA (1.2854) will soften near-term structure.
Res: 1.2919; 1.2942; 1.2972; 1.3012
Sup: 1.2872; 1.2854; 1.2819; 1.2768
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The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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