Cable is rallying strongly over lunchtime, presently up at 1.6375. Technical resistances now at 1.6380 and then 1.6400/10.
One has to remember it’s midday on a Friday before a long bank holiday weekend, so one can only imagine how thin the cable market is at the present time.
In my youth I had the misfortune of trying to trade cable over a normal Friday lunchtime and that was scary enough. I soon learnt I was better off calling it a day around 11.30 am and heading off down the pub.
EUR/GBP has continued it’s sojourn lower as longs hurry to book profits, which is obviously helping support cable. EUR/GBP is presently back down at .8775.
