Cable set to finish the week strong in impressive reversal
Stage set for the week ahead
The cable chart shows a bullish engulfing candle and is set to close at a 10-day high.
That's a great sign for a pair that's languished around current levels for two months. It's now facing the minor downtrend from the February and April highs.
There is good news in the UK as the vaccine rollout continues and cases fall.
The week ahead features jobs data (Tuesday), CPI (Wednesday) and retail sales (Friday). Signs of a pickup in activity will be welcomed by the FX market.