Cable: Looking for buying opportunities near 1.6400
- The GBP was hit across the board after not-so-impressive economic data;
- EUR/GBP looks to be in a bear trend channel with current parameters at .8200/.8425;
- GBP/JPY is in a steep bull trend but pull-backs will also be steep;
- I remain very bullish on cable but as always it’s a matter of timing the entry levels correctly;
- I’m looking for an hourly base to form near 1.6400 then I will add to my existing longs with tight stops on new buys below 1.6360.