The cross hit fresh lows after the strong UK retail sales data and is just off the week’s lows seen earlier around 0.7813. A break down through 0.7800/10 bids will re-target the 0.7755/60 lows of July 22 and looks a strong possibility if cable breaks up through the 200 day MA currently around 1.5718.
A UK clearer has reportedly been sitting on the offer in cable above 1.5700, but it does appear to have an underlying bid tone …
