Cable bounces in early hours of European session after hitting fresh two-week low at 1.3348, after failing to return below weekly 100SMA, which was broken two weeks ago for the first time since Oct 2014. The pair was in red for the five consecutive days, following pullback from fresh post-Brexit recovery high at 1.3655. Bearish near-term studies see risk of further easing towards next strong supports at 1.3318 (Fibo 38.2% of 1.2773/1.3655 ascend) and 1.3305 (rising 20SMA). Corrective upticks should stay capped under 1.3500 (daily Tenkan-sen) to keep near-term bears in play. Speech of BoE’s Governor Carney is in focus today.
Res: 1.3409, 1.3461, 1.3482, 1.3500
Sup: 1.3363, 1.3348, 1.3318, 1.3305
