GBP crosses

Cable: initial resistance at 1.6060

That was yesterday’s breakdown point and heavy stops were triggered after that break. This level provides the first resistance point. Sovereign buyers are reported near 1.5950 and I prefer the buy-bounce strategy if support holds. EUR/GBP is also nearing resistance levels at .8110 and if cable support points coincide with EUR/GBP resistance, my confidence levels will be all the higher.

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