The barrier interest in cable at 1.6350 is now history.
We’ve been as high as 1.6357, presently at 1.6351.
The cable bulls looking for instant gratification from stop loss activity through 1.6355 have been thwarted so far by central bank selling interest. Sources note a couple of central banks selling 1.6350+.
I don’t know what locale these come from, but earlier Russia had been an early buyer. They could be involved taking profit. They tend to like to job the market. And Middle East sovereign selling had been noted at lower levels, so maybe they’re doing more.
As seems to be the case alot of the time in cable, stop loss price action has a tendancy to be rather messy.
Data up in 10 minutes or so.
