GBP/USD: Cable Hangs at September Support; Can it Hold the Lows?

GBP/USD Talking Points:

– This week brings a ‘Super Thursday’ rate decision out of the Bank of England, but given the ongoing saga with Brexit and the brutal lack of clarity around the upcoming split from the UK, we’re unlikely to see much change to the bank’s policy outlay. Updated forecasts and projections could provide ample motive for near-term price action, and this will likely be the focus around the Thursday rate decision.

– GBP/USD has been mired in a consistent sell-off for the past two week’s that’s seen very little pullback or slowdown. Support is hanging by a thread around the September swing-low, just under the 1.2800-handle. Can Cable bulls wait out the flurry of negative headlines until some type of positive driver might compel a pushfrom support? Breakaway US Dollar strength is now another item of contention for GBP/USD bulls as the US currency continues to trade around two-month highs.

– Quarterly Forecasts have just been updated, and the Q4 forecast for GBP/USD is available from the DailyFX Trading Guides Page. If you’re looking to improve your

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