Well, aforementioned technical support at 1.6430 worked like a charm, giving cable a platform to rally from. The pairing even managed a brief sojourn above 1.6500, but hasn’t managed to hold above said level and we’re presently back at 1.6490.
Technical resistances now at 1.6520/30 and 1.6550. One thing that is becoming increasingly obvious (well I think it is) is the fact that the dual event risks of BOE quarterly inflation report and June jobs data are on the way to being fully discounted, if not there already.
