The dollar is holding its ground for now after the selling yesterday
The greenback is mostly keeping little changed across the board with equities slightly on the softer side as we get the session underway.
Cable was the biggest mover yesterday, as the pound gained by nearly 200 pips amid dollar weakness and also on confirmation that Brexit talks are resuming.
The topside move in cable also came on a break above the recent trendline resistance as gains soared past 1.3000 but stalled at the 61.8 retracement level of the swing move lower in September trading @ 1.3174.
As such, that will be the key level to watch if buyers are to continue with the upside momentum towards the previous swing region closer to 1.3200-15 next.
Beyond that, there is little in the way stopping a potential move towards the 1.3400 level.
Elsewhere, the dollar is also keeping little changed against the euro around 1.1855 but price action is still holding above the 9 October high @ 1.1831.
If sellers are to try and wrestle back some near-term momentum, that would be the first level to aim for. Meanwhile, buyers are seeing the upside push stall at the 61.8 retracement level of the swing move lower in September @ 1.1859.
