Cable: Buying dips still my preferred strategy
I’m building a long-term long position here and I’m looking for nice dips to add on. The 4-hour technical outlook (see chart) is bullish in my view and we are currently in a retracement phase which could possibly take us back towards 1.5290/70.
EUR/GBP could well prove to be the key here but getting timing right is very tricky on this cross. I still believe that we will fall back below .80 pretty soon on the cross and that’s the core reasoning behind my cable trade.