Cable slides further in early European trade

Source: www.forexlive.com

Cable lost ground overnight in Asia and the sell-off has continued in early European trade. The pairing is presently down at 1.6430 having closed out last week about a full cent higher.  General risk sentiment has taken a hefty knock and this is underminning sterling. Also weighing is the latest Rightmove house price data, which doesn’t make encouraging reading for those looking for a sustained recovery in UK house prices. Supports for cable now at 1.6400/05 and 1.6380.


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