The pound moved higher against the dollar Monday on rising expectations the EU and UK will agree on a trade deal, with Goldman Sachs (NYSE:GS) forecasting both parties "likely" to reach an accord by early November.

The short term trend remains down, but trade is fighting to hold and rebounded off the 1.2952 target. Market action alerts for a potential bottoming turn. We may see dips around 1.2910, but a close under 1.2910  is needed to renew bear pressures.

R2          1.3038
R1          1.2996

 
S1          1.2952
S2          1.2910