Cable’s slide continues., presently at 1.6355. Technical supports now at 1.6345/50, 1.6338 and 1.6300/10.
A number of factors are impacting cable negatively today. Among them, general risk appetite is in poor shape (S&P down 13 points); Righmove house price data is calling into question the sustainability of the recent recovery in the housing sector; and there are growing worries political interference to limit banker’s compensation could seriously undermine the City’s standing as a leading financial centre.
