Support - 1.4427, 1.4355, 1.43
- As pointed out in previous day's morning newsletter, Cable struggled to take out larger falling resistance and ended the day 1.45 levels. The failure to take out resistance happened despite upbeat manufacturing data and absence of fresh Brexit polls.
- Hence, Cable could slide to 1.4450-1.4427 (daily 50-MA). A violation there would expose daily 100-MA level of 1.4353. (another support stands at 1.4355).
- On the higher side, a clear day end closing above falling would provide a window of opportunity for bulls, although as discussed in earlier GBP/USD posts, a week closing above falling is what is needed to convince bulls regarding further upside in the pair.