Sterling is lower today but remains within the recent 1.2700/1.2820 (today; 1.2722/1.2813) range while keeping an eye on the Brexit talks. BOE Governor, Mark Carney will also be speaking today and may cause some volatility.
Technically, the outlook remains much the same as before, with the topside likely to see sellers heading into the 1.2800/17 area, which capped it last week, but above which could then head on to 1.2840 and then eventually on towards 1.2900.
Below the session low, the initial support is at 1.2690/1.2700. Below there could see a run back to the recent lows at around 1.2636/40 although the momentum indicators are generally neutral and a choppy session, close to current levels, would not surprise. Further out, below the 100 DMA, further support would arrive at 1.2600 and then at 1.2575 and 1.2514, which was the low seen on the announcement of the election in April. Below that would head towards 1.2465/70 although that remains some way off.
|24 Hour: Neutral||Medium Term: Neutral|
|1.2890||(61.8% of 1.3047/1.2636)||1.2722||Session low|
|1.2840||(50% pivot of 1.3047/1.2636) /Daily Kijun||1.2700||Minor|
|1.2817||14 June high||1.2689||15 June low|
|1.2813||Session high||1.2636/38||9 June low/12 June low|
|1.2775||200 HMA||1.2622||100 DMA|
Economic data highlights will include:
BOE Governor, Mark Carney Speech, Brexit talks
Interested in GBPUSD technicals? Check out the key levels
- R3 1.2808
- R2 1.2795
- R1 1.2785
- PP 1.2772
- S1 1.2762
- S2 1.2749
- S3 1.2739
All content on this website, www.fxcharts.com.au (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.