Sterling falls more than 100 pips on the news of theresa may heading back to Brussels for the brexit deal.
Sterling was trading at 1.2725$ before the news and now trading at 1.2610$ , a level not seen since June 2017.
Next support for cable lies at 1.2560$ while resistance lies at 1.2640$
Volatility surges ahead of the vote on brexit deal. Take care and you better avoid trading any GBP pairs today
The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.