The level has repeatedly frustrated the bulls
Cable closed at 1.5634 on July 13 in the month since, it has traded above 1.5625 on an intraday basis on 16 of 22 trading days. Yet it's failed in every instance.
We wrote earlier about the golden cross in GBP/USD but the real story in the pair is the inability to hold gains above 1.5625.
GBPUSD failing at 1.5625.
The calendars to close out the week in the US and UK are quiet so a move probably won't happen on Friday but if it finally breaks, cable can run a long way.
