GBPUSD
Given the fundamental narrative surrounding the BREXIT SAGA we continue to see this as the major catalyst of sterling. The technical rejection of the 1.3000 handle implies a confluent point at the multi-decade 61.8 trigger @ 12944 as the ultimate decision point. A considerable break and close below implies a move back toward June/July levels near 1.2645.
A clean continuation exposed a flush to 12600. This would be a key area to consider where institutions are trading.
Resistance1.30800
Inflection : 1.2744
Support: 1.2693
Given the fundamental narrative surrounding the BREXIT SAGA we continue to see this as the major catalyst of sterling. The technical rejection of the 1.3000 handle implies a confluent point at the multi-decade 61.8 trigger @ 12944 as the ultimate decision point. A considerable break and close below implies a move back toward June/July levels near 1.2645.
A clean continuation exposed a flush to 12600. This would be a key area to consider where institutions are trading.
Resistance1.30800
Inflection : 1.2744
Support: 1.2693