Cable is ticking higher after coming through a bit of a sticky patch post US housing starts. We’re presently up at 1.5475. The 1.5555/85 area remains the GBP bulls short-term target area.
The move higher in cable comes despite sources reporting good interest from a macro fund to buy the EUR/GBP cross around the .8766 low.
Technical supports 1.5420/25, 1.5400, 1.5370, 1.5355. Technical resistances up at 1.5520 and 1.5550/55.
GBP bulls will be looking for 1.5355/70 area to provide solid support on any pullbacks.
