Cable dipped to session low at 1.3206, trimming some gains, as traders booked profits after three-day rally. Also, comments from PM May about customs union which is a big issue in divorce talks, weighed, as pound last sharp fall on 21 Sep was triggered when May talked about Brexit. As mentioned in the previous report, 1.32 zone marks solid support and so far contained dip which is seen as consolidation ahead of final push higher, as overall sentiment is positive on strong hopes on signals that Brexit deal could be reached on EU summit next week. Dip-buying remains favored, although stronger dips on week-end profit-taking, cannot be ruled out.
Res: 1.3246; 1.3257; 1.3276; 1.3297
Sup: 1.3206; 1.3170; 1.3154; 1.3133
Interested in GBPUSD technicals? Check out the key levels
- R3 1.3329
- R2 1.3288
- R1 1.3261
- PP 1.3221
- S1 1.3194
- S2 1.3154
- S3 1.3126
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.