Friend of mine reckons its worth buying cable around 1.5665-ish with a very tight stop below 1.5650. His contacts into the options world are usually very good so perhaps there may be a barrier at 1.5650 (mere guesswork on my part). Anyway, if you’re bullish and looking for an entry level with a tight stop, this might be it?
As always, I’d wait and see how the market trades at the level and if it seems to be holding then jump on (even if it means buying a few spreads higher).