Cable has come under some concerted pressure. Apparently sizeable stops were tripped on the move through 1.5860 accelerating the decline.
The continued failure to penetrate the 1.5968 resistance has seemingly convinced some cable bulls to book profits. Obviously yesterdays stronger than expected US data, dampening speculation of further Fed monetary ease, has been big fundamental driver behind this latest cable move.
Cable presently at 1.5840 having earlier booked 1.5822 session low.
