GBP/USD snaps two-day losing streak and is balancing around the 1.31 level. Terence Wu, FX Strategist at OCBC Bank, just expects a deep fall on a break below 1.30. Meanwhile, initial resistance is seen at 1.3150.
Key quotes
“Lack of Brexit progress continues to weigh, but the underlying expectation that a compromise will eventually be trashed out supports for now.” “Watch the 1.3050 support, ahead of the 1.3000. A breach of that level may see deeper retracement.” “On the topside, watch first resistance at 1.3150.”GBP/USD 0001-01-01T00:00:00
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H0 L0
| S3 | S2 | S1 | R1 | R2 | R3 |
|---|---|---|---|---|---|
| 1.2934 | 1.2994 | 1.3029 | 1.3124 | 1.3184 | 1.3219 |
| Trend Index | OB/OS Index |
|---|---|
| Bearish | Neutral |
