Cable rallies early

Source: www.forexlive.com

Cable is off to a good start, tacking on a quick half a cent., presently at 1.6475. Resistances now come at 1.6480/85, psychological 1.6500 and then 1.6520/25. European stocks are set to open higher, risk appetite looking in ok shape, and this will be lending the pairing support. Not sure if there’s anything else driving move as yet, but looking bid. Given the huge uncertainty surrounding the Old Lady’s QE decision you’d think caution would prevail at some juncture.


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