GBPUSD Trade Appeal Grows as Fundamentals Stretch, Technicals Hold (Quick Takes Video)

Talking Points:

• GBPUSD has held its 1.3650-3450 range from the past week despite escalating fundamental pressure
• PM May didn't exactly clarify Brexit and Moody's downgraded the UK, meanwhile the Fed pushes towards another hike
• While Cable may ultimately continue higher, I am looking for a confirmed break of a head-and-shoulders neckline

COT figures showed futures speculators further cut their net short GBPUSD position through this past Tuesday - before the Fed decision and Prime Minister's speech. How does the more timely retail FX reading align to this position on the DailyFX Sentiment page? (https://www.dailyfx.com/webinars?ref-author=Kicklighter)



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