GBPUSD falls on comments.

He adds:

  • If August forecasts come to pass, interest rates will need to rise, but when that starts is more open to question
  • A number of banks are making plans to move some business out of UK if no Brexit transition deal agreed.

The GBPUSD has moved a bit lower on the comments. Looking at the hourly chart the pair traded to NY session lows at 1.3153. The 61.8% of the move up from the October 6th low comes in at 1.3145. A better support target on continued weakness was near where the price bottomed today. The 1.3121 area has been a swing level (both a floor and a ceiling) going back to October 5th. Stay above more bullish. Move below, more bearish.

At the NY session high today, sellers came in ahead of the next target at the 200 hour MA (green line in the chart below at 1.3219.