GBP crosses

Cable looking ominously soft

The GBP certainly has a soft feel to it and the strong rebound in EUR/GBP has given more momentum to the sterling bears. If the USD starts to get some bullish momentum then I feel that the cable could be one of the prime movers. Timing is everything of course but levels below 1.50 are starting to look realistic. Keep an eye on the weekly trend support as a break below there could send the market tumbling.

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