Cable returns above 1.40 on media report regarding Brexit
Sterling bounced back above 1.40 barrier on media report saying that the EU parliament was preparing to call for giving Britain privileged single market access.
The rally sidelined immediate downside risk after fresh bears probed below converged 10/30SMA’s (1.3945) earlier today, however, the downside is expected to remain vulnerable while the price holds below 20SMA (1.4033).
Res: 1.4015; 1.4033; 1.4054; 1.4104
Sup: 1.3954; 1.3931; 1.3900; 1.3854