Cable is sliding lower, presently at 1.6675. The close proximity of the 08:30 GMT release of Q-1 revised GDP seems to be prompting a hefty bout of profit-taking by cable longs.
While the previous high at 1.6661 remains intact the GBP bulls won’t be too worried. Given it’s importance, there’s a very good chance decent sell stops are gathered not too far below 1.6661.
