Cable sits at 1.6635, trying to steady after a rather sharp slide. Stops were triggered on move through 1.6635 taking us down to 1.6627. Talk earlier had been of buy orders down at 1.6600/10, now talk is of interest at 1.6600/20.
ACB buy interest had helped support cable after the release of what was pretty grotty public finances data. Looks like once the ACB stepped aside, the cable bears were free to fill their boots.
Good buy interest for EUR/GBP also emerged down at .8900/10 and we’ve subsequently rallied to .8935 which has helped pressure cable. Talk now of some sell orders in the cross up at .8940/50 with some stops placed just above there.
