Cable gets caught by old support

GBPUSD forex technical analysis

The quid's been knocked under 1.5600 and found support at an old S&R level at 1.5590

GBPUSD H1 chart

Below there we have the 31.8 fib of the August move at 1.5575 and we'll likely see support around 1.5550/60 then 1.5525/30

It seems that the market is rubbing out rate expectations across the board with constant chatter coming out on how CB's could raise in an environment like this. That's sentiment for you and it never takes much to change views. That might be changed on Friday as that's the only decent bit of UK data out this week via the revised Q2 GDP

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