The quid is taking back the weekend losses
We're right back to the Asian opening levels now in cable. We've gone through the 55 H4 ma and have the 100 at 1.2477.
GBPUSD H4 chart
Given that we've just crossed through the fix, and that it's close to month end, we might be at the mercy of those flows in this move.
As I mentioned this morning, keeping above the confluence of the 55 & 100 dma's could mark another strong bottom in the 1.2380/1.2400 area.
Should we carry on up, 1.2500/10 will be the next main resistance level to watch.
