The Cable is stretching into recent highs as Brexit hopes return to the forefront. It’s a hectic day for speeches in the UK ahead of the US CPI reading. The GBP/USD is getting buoyed by a step-down by the US Dollar, and the Cable is testing into 1.3225. Positive-leaning Brexit headlines are helping to provide support for the GBP heading into Thursday, with UK Prime Minister Theresa May gearing up to try and swing a temporary trade agreement with the European Union following Brexit, at least until a firmer plan can be realized. Eurosceptics within PM May’s own government are already baying for blood, and calls are beginning to arise for the dissolution of May’s government, but bullish hopefuls are focusing on the positives for the time being. It’s going to be a tense day on the economic calendar for the Cable, with an early speech from the Bank of England’s (BoE) Carney at 05:00 GMT, to be followed by the BoE’s Credit Conditions survey at 08:30 GMT, another appearance from Mark Carney at 09:00 GMT, and finally a speech from MPC Voting Member Vlieghe at 10:45 GMT; after that will be the US’ CPI reading at 12:30 GMT, and core inflation in September is expected to tick up from 2.2% to 2.3%. GBP/USD levels to watch The Sterling could be in a cushy position to claim further upside, according to FXStreet’s own Valeria Bednarik: “the GBP/USD pair seems comfortable above the 50% retracement of the 2016/18 rally, now turned into support at around 1.3175. The pair has been unable to sustain gains for long above the level in the last two months, so caution is recommended, although further positive Brexit-related headlines should keep it on the bullish side. The short-term technical picture favors additional gains, moreover, if the pair breaks above 1.3215, Sep 26 high, as, in the 4 hours chart, technical indicators maintain their upward slopes near overbought readings, while the price advanced well above a firmly bullish 20 SMA.” Support levels: 1.3175 1.3130 1.2990 Resistance levels: 1.3215 1.3245 1.3290 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZ: House sales fell 9.4% m/m in September – ANZ FX Street 4 years The Cable is stretching into recent highs as Brexit hopes return to the forefront. It's a hectic day for speeches in the UK ahead of the US CPI reading. The GBP/USD is getting buoyed by a step-down by the US Dollar, and the Cable is testing into 1.3225. Positive-leaning Brexit headlines are helping to provide support for the GBP heading into Thursday, with UK Prime Minister Theresa May gearing up to try and swing a temporary trade agreement with the European Union following Brexit, at least until a firmer plan can be realized. Eurosceptics within PM May's own government are… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
