Cable continues to flirt with key support at 1.3000


The daily close will be the one to watch as we have seen the pair attempt to maintain a firm break below 1.3000 for the past few weeks, only to weaken at the end of the day.

The pair is trading down 0.3% at 1.2990 at the moment as the USD is more mixed (mostly firmer except against the Yen) with the Pound not helped by a combination of bullish sentiment. gloomy risk and poor UK retail sales data.

If sellers can hold the decline below 1.3000 over the weekend, this will open the way for a potential push towards the 50.0 retracement level of the swing high from March 2020 to February 2021 @ 1.2830 then.


cnbctv18-forexlive-benzinga

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button