It’s the beachball under the water syndrome. Cable gets pushed down and bobs right back up. We’re presently back up at 1.6570, the pound shrugging off a somewhat mixed CBI industrial trends survey. Some good news, some bad, but the future is looking a little brighter, maybe, possibly.
Anyways, anyone would think the market knows about an oil company with ongoing interest to buy cable through next Monday.
The GBP bulls will now have to fight through aforementioned sell interest lined up at 1.6590 up through 1.6650.
Sterling, The Little Engine That Could.
