Cable opens firmer in Europe

Source: www.forexlive.com

Cable is at 1.6410, up from a North American close Wednesday around 1.6350. The pairing is benefitting from a generally weaker greenback, strong risk appetite, and hope in certain quarters that the UK recession may have ended in March. On the last part, I hope they’re right, but am certainly not convinced. Technical supports 1.6395.00 and 1.6345/50, resistances at 1.6430/35 and 1.6450/55.


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