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”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.