Cable is the dog of the market today. The most negative signal it’s sending is an inability to rally no matter what the news.
GBP/USD had a nice three-week run but the shorts have been flushed out and on Tuesday it looked like a top could be forming. This could be the confirmation we’ve been waiting for.
There are bids at 1.6150 and stops below 1.6130 ahead of light demand at 1.6120. Better bids are at 1.6100.
