As I just said to a market contact, cable taketh and cable taketh some more…
Buying dips to 1.5720/30 seemed logical, and hell it worked for 50 pips, but here we are blasting lower in thin afternoon trade. 1.5600 is next support of note.
The chart is an absolute poop show now, with an outside day key reversal in the offing (a bearish engulfing for you candlestick guys…).
I hate cable…
On the bright-side, at least two majors (AUD and GBP) are now in corrections. Can the euro be far behind? 1.3550/60 is key on the downside.
