Cable has slumped lower, stops below 1.6400 and 1.6380 having been triggered in quick succession. We’re presently down at 1.6365. Technical supports now 1.6350 and 1.6320.
Cable’s cause isn’t being helped by the fact expected Chinese bids in EUR/USD at 1.4130/40 have evaporated into thin air.
This isn’t the first time, and it won’t be the last, that this has happened. Normally the interest hasn’t been moved very far away. Technical support for EUR/USD now 1.4100/05.
