Analyst
The pair is currently hovering around the 0.86000 psychological level and has been limited to narrow movement as the European session hots up. The Cable has been pressured recently by the spike in new Covid-19 cases in the UK as official figures show that 32,181 people tested positive for the novel virus on Tuesday. The Struggle between the Bulls and the Bears around the psychological level will provide further directives on the pair.
The psychological zone around 0.86 is expected to reject price leading to some move southward on the pair, with a target at 0.85772 and stop-loss slightly above the psychological level.
German Final Manufacturing PMI released at 8.55 am came out flat.
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