The bird now hovers around 1.45 handle. The data docket in UK is thin and Cable thus remains at the mercy of Brexit talk. Note that – Brexit referendum is not binding on the parliament!
- Retreat from Asian session high of 1.4660 to 1.45 levels marks failure to sustain above rising (black). This if followed by a break below Asian session low of 1.4433 could signal a drop to daily 100-MA level of 1.4345.
- On the higher side, move above 1.45145 (Mar 18 high) may attract bids, although caution is advised given the thin liquidity.