On top of the world one minute, and in the rubbish bin the next
The quid is under the cosh once again and has just broken below 1.5300 to a low of 1.5291
There's mild support at the low and then at 1.5270/75
GBPUSD H4 chart
The break of support and the 200 dma at 1.5340/45 and then the 1.5330 looks to be significant, and could well mean a quick trip down towards the early Sep lows around 1.5160/70
UK data is MIA until next week when we get the final Q2 GDP revisions and manufacturing PMI. That's not much at all so pound traders are going to have to wait a bit longer to judge the state of the economy as Q3 ends this month
If we test and hold the 1.5330/45 level then that will almost certainly confirm the break lower and I might look at a short from there for a run down to the aforementioned sub 1.52 levels
The way it's looking now, and the way the pound has performed like this recently, we may not get that re-test
