We’ve just seen cable finally properly test below 1.6700 only to run into more bids at 1.6685 as per my orderboard yesterday and these are still in place.
1.6683 is the 31 March high and we can expect stops below 1.6680 for a run to 1.6665 then 1.6650 with larger tech support around 1.6640.
I signed off yesterday by suggesting a 1.6700-50 range strategy while staying inherently short and I hope some of you made the most of that either buying yesterday’s dip for a re-sell above 1.6740 ( as I did) or waiting and just selling the rally, or both
Resistance now right here at 1.6700 then 1.6715. More offers at 1.6735 and then 1.6750 of course. Currently 1.6696 after 1.6685 lows
UK CPI coming out at 09.30 ( GMT+1) and we are delicately poised. Still 1.6650-1.6750 on the wide so nothing too much to get excited about but opportunity nonetheless.
