Cable hits new lows as sentiment deteriorates further

Technical Analysis

Author: Adam Button | gbpusd

Cable down a full cent

Cable down a full cent
It's going from bad to worse with the S&P 500 now down 107 points and breaking the 100-day moving average.

The negativity is weighing on cable as it hits a new low of 1.3641, down a full cent on the day. It's a marginal new low as the FX market paints a more mixed picture, in part due to US rate differentials coming in on a strong bid in Treasuries.

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