GBPUSD: 1.3224
Preferred Strategy: Cable has had another solid session, underpinned by the softer US$ and closing the day near the highs of 1.3234 The charts remain mixed, so a neutral stance is required but overall, with the dailies still looking heavy, selling into near term strength may be the plan. In the meantime, the 4 hour charts are picking up a positive mood, so a near term moves towards 1.3260/90 would not surprise.
| 24 Hour: Neutral | Medium Term: Prefer to sell rallies | ||
| Resistance | Support | ||
| 1.3340 | (50% of 1.3656/1.3026) | 1.3175 | Session low |
| 1.3292 | 4 Oct high | 1.3145 | 100 HMA |
| 1.3265 | (38.2% of 1.3656/1.3026) | 1.3130 | 10 Oct low |
| 1.3250 | Minor | 1.3100 | Minor |
| 1.3235 | Session high | 1.3075 | 9 Oct low |
Economic data highlights will include:
T: BOE Credit Conditions Survey
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