The pound is one of the few notable movers so far today
In fact, besides some modest movement in the pound and the franc, major currencies have been largely more quiet and trading narrowly to start trading this week.
Barnier was mum on how talks went over the weekend and is expected to continue negotiating with Frost again later today, as the political theater continues in London.
For the most part last week, pound buyers kept the optimism in holding above the 100-hour moving average (red line) but have found it tough to breach the 1.3400 level.
But as Friday came about with little evidence of any breakthrough, the pound fell off towards 1.3290-00 before rebounding slightly in the closing stages and in trading today.
As of now, price action is resting in between the key hourly moving averages and the near-term bias is more neutral as such. The 200-hour moving average (blue line) is seen @ 1.3320 with the 100-hour moving average at 1.3352.
That will help to impose some near-term limitations to price action but there also key technical levels to be mindful about to establish any firm momentum in either direction.
To the downside, the 1.3290-00 region is one to watch before last week's low of 1.3264 comes into play. As for the upside, the clear resistance point is the 1.3400 level.
The levels highlighted will be the ones defining cable price action as we navigate through the opening stages this week, awaiting for more clues on Brexit negotiations.
