It felt like the market was ready to hit cable hard yesterday if - TopicsExpress

It felt like the market was ready to hit cable hard yesterday if the retail sales number was a poor one but it surprised to the topside and we therefore had a relatively quiet day compared with the excessive moves elsewhere. I do think cable will struggle to rally that far now the USD has turned - however, there are far better currencies to sell against the USD than sterling. Recent data has been impressive and GBP crosses should do well as a result. EUR GBP is a sell now with a tight stop above 0.8550 whilst a move back below 0.8490 should open up the downside. For cable, 1.5560-70 is the pivot on the topside with 1.5415 the support. Good luck.

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