GBPUSD: US session at 1.3375

GBPUSD: 1.3387

Cable fell to a 1 week low of 1.3358  amid Brexit uncertainty, ending the US session at 1.3375 and looking mixed heading into Thursday

1 hour/4 hour indicators: Mixed

Daily Indicators: Possible topping formation.
Cable fell to a 1-wk low at 1.3358  amid
Brexit uncertainty, ending NY 1.3375

Weekly Indicators:  Turning higher?

Preferred Strategy:  It looks set to remain choppy for Sterling, with Brexit headlines likely to guide the direction. A neutral stance is required although further dollar strength would seem to point to slightly lower levels for Cable, where targets would be at 1.3350 and then at 1.3300. In the meantime, stand aside.

Resistance   Support  
1.3538 4 Dec high 1.3357 Session low
1.3500 Minor 1.3352 (38.2% of 1.3038/1.3549)
1.3480 5 Dec high 1.3325 Minor
1.3443 Session high 1.3295 (50% of 1.3038/1.3549)
1.3400 Minor 1.3280 Minor

 

GBPUSD

All content on this website, www.fxcharts.com.au (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.