GBPUSD: US session at 1.3375

Jim Langlands FX Charts

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

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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