Preferred Strategy: Cable has had a wild ride on Thursday, initially heading lower on due to the UK payment impasse before spiking higher on speculation that the EU may offer Britain a two-year transitional Brexit deal. Currently at 1.3260, the charts are mixed. With so many balls in the air, including the chance of a November rate hike from the BOE, I am avoiding Sterling right now but the dailies are still pointing lower, so overall, in line with the stronger dollar scenario, I prefer to look for areas to sell into.
|24 Hour: Neutral||Medium Term: Prefer to sell rallies|
|1.3415||(61.8% of 1.3656/1.3026)||1.3220||Minor|
|1.3340||(50% of 1.3656/1.3026)||1.3150||Minor|
|1.3325||100 WMA||1.3120||Session low|
|1.3290/92||Session high/4 Oct high||1.3100||Minor|
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