Cable is closing in on key support.

With the EURUSD below the 1.1700 level, our attention has to turn to the GBPUSD which closed below a minor trend line (Jul20th lows to yesterday’s lows). A major support level is just below at the 1.3525 which is approximately the highs from Dec 2019 and Sept 2020 (about 50 pips lower). These levels represented a big breakout back at the end of 2020, and a move back below the 1.3500 level (approximately) could put the 1.3406 level in view next. Daily RSI is not oversold yet, but pointing lower.