GBPUSD resumes the last friday upward rise till 1.2700 and it has a chance to retest the level of 1.2200 , then continues it upward rally.. it can be a monthly analysis also.. based pure price action analysis.. not based on fundamentals..
Cable has resumed its downtrend and can test recent cycle lows.
As we said in our Market Movers comments yesterday, Brexit discord (and high uncertainty) both within the UK and between the EU and the UK continues to keep sterling soft. Poor manufacturing data yesterday morning - the lowest PMI reading in more than two years - has also not helped.
Technically,...