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Cable rallies early

By   || November 4, 2009 at 07:22 GMT
|| 4 comments || Add comment

Cable is off to a good start, tacking on a quick half a cent., presently at 1.6475.  Resistances now come at 1.6480/85, psychological 1.6500 and then 1.6520/25.  European stocks are set to open higher, risk appetite looking in ok shape, and this will be lending the pairing support.

Not sure if there’s anything else driving move as yet, but looking bid.  Given the huge uncertainty surrounding the Old Lady’s QE decision you’d think  caution would prevail at some juncture.

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4 Responses to “Cable rallies early”

  1. Adje on November 4th, 2009 07:25 GMT

    Morning gerry,

    For me next resistance is somewhere around 1.6640 area. Support now around 1.6458

  2. Gerry Davies on November 4th, 2009 07:33 GMT

    Morning Adje, thank you. Much appreciated.

  3. Adje on November 4th, 2009 07:34 GMT

    Sorry forgot to mention that we’ll need a close in the hourly above your levels mentioned. sorry overlooked something :D can happen. But I assume somehow that we will.

  4. Gerry Davies on November 4th, 2009 07:43 GMT

    Okidoki.

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