Cable rally seems to have run its course, at least for now

Source: www.forexlive.com

Cable struggling to hold above 1.6200 at the present time, presently at 1.6195 having hit 1.6223. As mentioned earlier Asian central bank sold above 1.6200. Now reports of Middle East names selling above 1.6200 as well. The latter are generally pretty canny when it comes to cable, so rally might have run it’s course, at least for now. Incase it hasn’t, talk of further stops on break of 1.6225.


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