Cable tests 1.3200 resistance as EURGBP continues to slide

A decent morning for the pound helped by EURGBP supply 30 OctEURGBP sellers have been notable in this pair after failing to claw its way back through 0.8850 and now down through 1-month support around 0.8825 to post 0.8810
That supply is pushing cable up to test decent supply/resistance around 1.3200. If that does break then we might expect a quick run up to 1.3220-30 where more offers/res lay in wait after Friday’s move down to 1.3070. Demand for EURGBP between 0.8785-00 A good opportunity for a re-sell from the 1.3070 Friday lows for those inclined but caution advised in a week that is building up even more expectation of a BOE rate hike on Thursday. That said though, the more we get a hike factored in the more attractive the sell into an alog-led spike on the fact becomes. IMHO ofc. Article Source

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