Cable: Looking to play 1.64/1.68 broad range
As you are no doubt sick of hearing, I’ve been long and bullish GBP for some months now. I still think that EUR/GBP is headed to .75/.77 but what I’m not sure about is whether this moves mainly happens through a higher GBP/USD or a lower EUR/USD? Probably a bit of both.
I’m expecting cable to settle into a 1.64/1.68 range over coming weeks and I will happily book profits on my long position on any 150 pip intraday spikes.