Cable has rallied nicely in early European trade, presently at 1.6490. Technical resistances now come at 1.6500/05 and 1.6530/35. On the downside support at 1.6460/65.
Risk appetite is fairly robust at the start of the new week, with European stocks set to open higher, and this is helping support cable.
Will be interesting to see whether cable can regain and hold the ground North of 1.6500, something it’s struggled to do of late.
