GBPUSD: Neutral

Jim Langlands FX Charts

GBPUSD: 1.3261

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
Resistance		Support
1.3415	(61.8% of 1.3656/1.3026)	1.3220	Minor
1.3375	Minor	1.3190	100 HMA
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

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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