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Markets have been relatively sedate so far this week, at least major currency pairs. There was some movement in GBP/USD, which has continued its correction lower. Mostly weaker U.K. PMI readings and ever-present Brexit shenanigans haven't helped Cable.
Technically, the pair broke back below 2016 - 2017 resistance line and August high. 50.0% retracement of the August - September rally is holding for now. Area between 50 DMA and 61.8% retracement is the next downside target. On the upside, 1.3325 - 1.3350 is where sellers may step in.
Technically, the pair broke back below 2016 - 2017 resistance line and August high. 50.0% retracement of the August - September rally is holding for now. Area between 50 DMA and 61.8% retracement is the next downside target. On the upside, 1.3325 - 1.3350 is where sellers may step in.
