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Major Support - 1.3070
The pair has lost more than 100 pips after EU chief negotiator Micheal Barnier ruled out UK key customs proposal. Theresa May is travelling to Austria to meet chancellor Sebastian Kurz and Czech PM Andrej Babis regarding Brexit. The pair hits low of 1.30829 and shown a minor recovery from that level. Cable shown a massive recovery after hitting 10 month 1.29575.It has made temporary top at 1.32132 and is currently trading around 1.30980.
Intraday trend is weak as long as resistance 1.3165 holds. Any break above 1.3165 will take pair to 1.3210 (61.8% fibo)/ 1.3260/1.3310. Any close above 1.3300 confirms further bullishness.
The near term support is around 1.3070. Any break below targets 1.3000/1.2950.
It is good to sell on rallies around 1.3135-40 with SL around 1.3175 for the TP of 1.300/1.2955.
