In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable remains neutral/positive in the near term and keeps looking to 1.3298.
“No change. GBP/USD’s outlook is neutral to slightly positive. Very near term it is creeping higher. The market has recently recovered just ahead of Fibo support at 1.2905 and attention is now on 1.3298 the September high and 1.3363 the July high. These remain major break up points to 1.3495 the 200 day ma initially”.
“Dips will find support at 1.2965 a minor uptrend and 1.2924 the October low”.
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