The UK economy has gone from top of G7 leaderboard to almost bottom, says Mark Carney ‘We have not done as well in the short term as we would have done if the vote had gone the other way,’Mr Carney said on Thursday – The Independent (UK). That and the move by Special Counsel Robert Mueller to subpoena President Donald Trump’s campaign for documents containing specified Russian keywords from more than a dozen officials, has sparked the Cable rate, particularly overnight.
H1, has the rising support from the key 20 period moving average, a break of the latest Fractal high on last nights Daily close, and resistance at 1.3250. H4 has resistance at 1.3239 and support at 1.3215. Both time frames are approaching over bought on the RSI but with positive parabolic SAR and momentum indicators. The Daily chart triggered an entry on last nights close at 1.3193 with an initial target at 1.3253 and target 2 at the full 14 DATR at 1.3293. A reverse to the low of the recent move at 1.3080 will negate this move.
Click here to access the HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:
Senior Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.