Cable breaks 2017 high after signs of a crack in united EU front

Technical Analysis

Author: Adam Button | cable

The pound touches above 1.3655

The big level to watch on the weekly close is the September 2017 high of 1.3655. Cable touched above it and hit the best levels since the Brexit vote.

The initial reaction to the news was very positive but it's competing with an updraft in the US dollar on the retail sales numbers. At the same time, we will also have to wait and see how Germany reacts.

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