GBP/USD Technical Analysis: Cable on the mats at 1.3020

• Over the past twenty-four hours, the GBP/USD hit the floor and kept rolling, hitting 1.3020 in Thursday’s US session sell-off, and Sterling traders have seen little reason to pick the Pound back up as Brexit concerns continue to hang over the UK marketscape. 1.3030 represents the current ceiling heading into the London market session, and buyers will have to first push the pair back over the level before continuing higher.
• GBP/USD analysis: bears took over on Brexit jitters

GBP/USD, M5

• In the past week, Brexit hopes gave way to resignation, sending the Sterling into 1.3236 as Pound buyers digested headlines from the week’s EU leadership summit in Brussels, with sound bites coming from the politicians’ camps continued to push the line that it’s not too late to find a workable Brexit deal, but reality was quick to set in and the GBP/USD clattered its way back down into range of the 1.3000 handle.

GBP/USD, M30

• Going over the past month, rounds of bullish inspiration continue to fall flat, and near-term rising trendlines continue to be broken to the downside as fresh waves of market concern grip the GBP; the Cable peaked in the last four weeks at 1.3258, and is set to wrap the current trading week up with a challenge of the four-week low sitting at early October’s bottom of 1.2922.

GBP/USD, H4

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