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After it tried both the upside and the downside in yesterday's trading, Cable settled in the middle of the day's range and the middle of the last week's range. Recent polls show Remain vote firmly ahead but concerns have been mounting that it is not only the potential Brexit that has been holding U.K. GDP growth down.
Technically, 50 DMA crossed above 100 DMA last week and the two levels now nicely coincide with May low, making area near 1.4350 a decent support. On the upside, 1.4660 (May 19th high) is followed by 1.4770 (May high, 200 DMA) and then 1.4880 (50.0% retracement of the 2015 - 2016 downswing).
Technically, 50 DMA crossed above 100 DMA last week and the two levels now nicely coincide with May low, making area near 1.4350 a decent support. On the upside, 1.4660 (May 19th high) is followed by 1.4770 (May high, 200 DMA) and then 1.4880 (50.0% retracement of the 2015 - 2016 downswing).
