After a pretty torrid morning, cable is presently trying to regain some it’s poise. We presently back up at 1.6360 from session low 1.6330. The move comes with stocks showing some marginal improvment (but still down) and with the strong rally in EUR/GBP taking a breather.
Technical resistances for cable now come at 1.6385 and 1.6400/05. Given importance of 1.6400 on way down, got to think some buy stops gathered just above said level.
And as you’ll all probably have quessed by now, I didn’t win the UK national lottery last night. But I have high hopes for Fridays Euro Millions!!!
