Sterling remains weighed by Brexit uncertainty

Cable remains at the back foot and probes again below 1.33 handle in US trading on Tuesday, despite initial positive signal from Monday’s downside rejection at 1.3224 and subsequent bounce near 1.3400 zone.
Brexit uncertainty weights on sterling, with today’s comments from UK PM Boris Johnson who said that Britain could abandon trade talks – just three weeks before the end of post-Brexit transition period – adds to negative tone.
Daily techs point to rising downside risk as momentum continues to head south and approaching the border line of negative territory and daily cloud twists next week and could attract bears.
Rising 20DMA (1.3308) and double-bottom of 27 Nov / 2 Dec (1.3285/87), marks initial pivots, close below which would risk extension towards next trigger at 1.3208 (Fibo 38.2% of 1.2675/1.3538 rally).
Failure to clearly break 1.3308/1.3285 supports would keep bears on hold for extended consolidation, but near-term bias is expected to remain negative while the action stays below 1.3400 barrier.

Res: 1.3376; 1.3400; 1.3441; 1.3500
Sup: 1.3335;1.3308; 1.3285; 1.3224