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  • The Cable is constrained by the 1.31 technical handle in early consolidation as traders look for a breakout.
  • A rising trendline from near-term lows coincides with a rising 200-hour EMA from 1.3070 providing support, while resistance sits at the week’s peak of 1.3130.
  • Medium-term, the US Dollar remains well-bid, and Sterling bulls should use caution when buying against the crowd, especially as Brexit headlines threaten to shake out Cable bids once more.

GBP/USD Chart, 15-Minute


       Last Price:  1.31
       Daily change:  10  pips
       Daily change:  0.0764%
       Daily Open:  1.309
       Daily SMA20:  1.3091
       Daily SMA50:  1.2972
       Daily SMA100:  1.3108
       Daily SMA200:  1.3498
       Daily High:  1.3134
       Daily Low:  1.3028
       Weekly High:  1.3123
       Weekly Low:  1.2922
       Monthly High:  1.33
       Monthly Low:  1.2897
       Daily Fibonacci 38.2%:  1.3069
       Daily Fibonacci 61.8%:  1.3094
       Daily Pivot Point S1:  1.3034
       Daily Pivot Point S2:  1.2978
       Daily Pivot Point S3:  1.2927
       Daily Pivot Point R1:  1.314
       Daily Pivot Point R2:  1.319
       Daily Pivot Point R3:  1.3246