Technical Analysis

Cable climbs again above 1.29 as pound extends restoration

GBP/USD touches a excessive of 1.2905 on the day


There is no specific headline that I can attribute this to however as soon as once more, I am a bit skeptical within the rally right now as that is coming forward of the wages information to be launched at 0930 GMT. And we have seen this sort of strikes earlier than in such circumstances.

The three October low @ 1.2925 in GBP/USD ought to present some resistance within the near-term however with Brexit worries nonetheless but to be cleared, I am failing to see how the good points right here will be sustained.

Given the backdrop, it is making for promoting alternative as soon as the wages information is out of the best way later within the day.

The restoration within the pound additionally sees it push to a excessive of 147.23 towards the yen, closing in on a take a look at of the 200-day MA:

That shall be a key battleground for GBP/JPY forward of the wages information later and with Brexit worries nonetheless looming massive for the pound.

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