Bearish sentiment is high in the Cable. Understandably so. And the ugly bearish engulfing on Friday is just going to encourage them
1.5700 and thereabouts, though, is longer-term support, and we should plan for some sort of sideways action around these levels for coming days (I beleive this is referred to as ‘Famous Last Words’).
On the topside around 1.5860 hold selling; 1.59.50 above there.
Downside has bids down to around 1.5670 and then a mixture of bids and more sell orders below.
