- Cable trades below major support of 1.4400 on renewed Brexit fears. It is currently trading at 1.4386.
- According to Brexit poll conducted by YouGov recently shows a lead for Brexit. The poll was based on Wed-Friday survey of 3500 Britons commissioned by YouGov found 45 pct said that they would vote to leave EU compared to 41 pct ‘remain’.
- The pair has currently broken the low made on 1.43850 (Jun 1st low) and declined till 1.43516.
- Short term trend is weak as long as resistance 1.4450 holds. Any break below 1.4450 will take the pair till 1.4520/1.4580/1.4600.
- Overall bearish invalidation only above1.4750 (200 day MA)
- On the lower-side any break below 1.4380 will drag the pair till 1.4330/1.42896/1.4240.
It is good to sell on rallies around 1.4450-460 with SL around 1.4600 for the TP of 1.4240/1.4000
