Cable looking well bid in early European trade
As I mentioned earlier, resistance in EUR/GBP above .8590 is also starting to look very solid indeed and with the possible double-bottom in cable, the GBP doesn’t look like such a bad bet.
Short-term resistance levels are close by in the cable at 1.5240.
Hi Sean
What do you think about the possibility of a double top at 1.5890 in the GBPAUD, with a squeeze down 1.5600/1.5550 level later this week?
Certainly possible Keir but I must say I do prefer the double bottom story in cable! (talking my position). Maybe both could eventuate which would mean a sharp jump in store for the AUD/USD? But first GBP/AUD needs to break and hold below 15780