GBPUSD: Neutral

Jim Langlands FX Charts

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

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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