Cable is on the move, back over 1.6500 in early European trade, presently at 1.6530. General risk appetite remains in good shape and this is helping underpin the pairing.
Technical resistances now lined up at 1.6550 and 1.6595/00. Probably stops just above 1.6550.
Where we go from here pretty much depends on whether the euro bulls can manage a breach of 1.4300. I’d really like to think they can, if for no other reason than it would alleviate the abject boredom. Come on, if we all join together and will it hard enough, it will happen!!!
