Cable: Buy intraday dips towards 1.6370
- Sentiment remains strongly pro-GBP after Friday’s retail sales data came in well above expectations;
- EUR/GBP remains in a solid down-channel but isn’t yet oversold;
- 1.6370 was the hourly high prior to the spike on Friday and this level now provides initial support for the cable;
- Levels near 1.6550 will be tough to overcome so book profits near there and re-load on dips.