GBPUSD: Neutral

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

 

GBPUSD

 

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