Cable falls to new monthly lows on rising risk of no-deal Brexit

Cable dips to the lowest in December on Friday, extending strong weakness into second straight day.
Sterling came under increased pressure on rising probability that trade talks will end without agreement and trigger most feared scenario – no deal Brexit.
The pair is down around 0.8% on Friday so far, following Thursday’s 0.78% drop and on track for weekly close in red after five straight weeks of gains.
Fresh bears broke through pivotal Fibo support at 1.3208 (38.2% of 1.2675/1.3538) and focusing next targets at 1.3124/07 (55DMA / 50% retracement / Nov 12 trough) and 1.3090/78 (100DMA / daily cloud top).
Rising bearish momentum and 10/20/30 MA’s in negative setup on daily chart, maintain pressure, with next week’s daily cloud twist (1.3064) being magnetic.
Weakening weekly studies add to negative signals.
Brexit remains a  key driver and pound could collapse in case of no-deal scenario, but larger bulls would regain traction if EU and UK reach an agreement.

Res: 1.3250; 1.3300; 1.3327; 1.3359
Sup: 1.3175; 1.3124; 1.3107; 1.3090