- Cable has declined slightly after hitting 1- ½ month high at 1.33831 yesterday. The main jump in GBP in previous week was mainly due to positive tone on Brexit talks. The pair shown a minor profit booking and declined till 1.33092 at the time of writing. It is currently trading around 1.33063.
- Bank of England said all seven major banks has passed stress test and could able to handle disorderly Brexit. BOE Carney said disorderly Brexit would cost more and cause slower growth, higher unemployment.
- The pair is facing strong resistance at 1.3400 and any break above will take the pair to next level till 1.3435/1.3500 level. Short term bullish invalidation only below 1.30280.
- On the lower side, near term support is around 1.32300 and any break below will drag the pair to next level till 1.3175/1.3130/1.3100/1.3060/1.30270. The minor support is around 1.3280.
It is good to buy on dips around 1.3300 with SL around 1.3250 for the TP of 1.3400/1.3500.


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