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Cable slammed below 7-month trend line as Brexit crisis deepens – GBP/USD Market Outlook – 11/09/2020

The Cable dived below the 7-month bullish trend line as Brexit crisis deepens, postponing the talks until next week. Earlier today, UK GDP numbers disappointed analysts’ expectations, keeping the pressure on the Pound for a possible further downside move. Today’s plan will be to short any bounce as long as price remains below 1.29, targeting 1.2730.

Support: 1.28/ 1.2730
Resistance: 1.2880/ 1.2930

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Friday, 11 Sep, 2020 / 7:40

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/cable-breaks-below-7-month-trend-line-as-brexit-crisis-deepens-gbp-usd-market-outlook-11-09-2020

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