Just another poop-storm in cable today. Sell it Friday buy it Monday. Turn EUR/GBP on its head at the same time. The pound is racing higher,
EUR/GBP is being pounded, pun intended, with no finesse at all. So far, I’ve had little success in identifying the flow other than a German name helped get the ball rolling to the downside in the cross. We’ve retraced more than half of the Friday rally thus far.
Cable is at 1.6130, eying resistance at 1.6160 followed by the 1.6290/1.6310 area.
Don’t say you haven’t been warned...
