Well cable has pretty much gotten it’s mojo back, presently up at 1.5720. The pairing has put in a decent recovery in the wake of the S&P shock move to lower UK ratings outlook to negative from stable.
A little worryingly S&P futures wallow around the days low presently down 14 odd points and looking a little uncomfortable. This could temper cable’s upside and traders will be keeping an eagle eye on stocks to see where the next main move is going to be.
Technical resitance for cable next at 1.5740/50.
