Cable breaks 1.24 and nears the 61.8% retracement of the collapse

Technical Analysis

Author: Adam Button | cable

Snap back rally continues

Snap back rally continues
This was a complete washout due to a funding strain, probably at UK banks. Now we're unwinding the move at an equal pace.

The 1.2500/17 level is a good one to lean against if you don't like the pound but I caution against overthinking the fundamentals. This is all about USD liquidity for now.
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