Cable rallies again, triggers stops

Source: www.forexlive.com

OK OK, so the bloody middle eastern sellers weren’t so canny this time round. Cable up, triggers stops above 1.6225 and spikes to 1.6238. Technical resitance now 1.6250/55. Elsewhere EUR/USD has been down to test aforementioned support at 1.4900/05, presently back up a shade at 1.4915. EUR/GBP has continued lower which will be weighing on EUR/USD, the cross presently down at .9185. Some feel comments made by BOE’s Fisher in his FT interview possibly signal a pause in QE or maybe even the end of QE. I read the interview twice and certainly didn’t come away with the impression the bank was finished. They might pause, who knows. I thought he was playing his cards very close to his chest. And it should be remembered he’s only one member.


Read more...