There have been a few professional organisations turning bearish cable over the last few weeks, all targeting a return to levels near 1.5000. On-going spending cuts, a stuttering economy and talk of further QE; all of these have the fundamentalists seeing a run on the pound and now the technical picture is also looking a bit shaky (to some eyes at least).
Cititechs went short last night at 1.6130 with a stop-loss above 1.6300 and a profit target near 1.5300. Nice risk-reward there.
