Sterling ahead of 1.3015, level which should mindful again::

9 Okt 2020

Thursday, as can be seen from the H4 chart, retested the 1.29/channel support (1.2805) combination and held firm, printing a close back above October’s opening value at 1.2925. This has potentially transferred energy back towards the key figure 1.30 ([red] surrounded by H4 resistance at 1.3009 and daily resistance at 1.3017).017/1.30 resistance (red area on the H4) remains a zone to be mindful of. The break back above October’s opening value at 1.2925 is likely to spark intraday bullish scenarios to 1.30. Violating 1.29 and channel support (H4), extended from the low 1.2805, would help confirm bearish strength south of daily resistance at 1.3017 and may see H4 hone in on 1.28, which happens to merge closely with daily trend line support coming in from the low 1.2075.