Flows and Orders/FXWW News/GBP crosses

Cable: Partial take-profit orders set at 1.6410

As you all know I’m very bullish on cable and have been for some time but I’m also a realist and I’m well aware that there is no such thing as a straight-line move in the FX market. With USD/JPY staying stubbornly bullish and with the USD also looking quite strong against the AUD and the CAD, I’m pretty sure that cable will not explode higher vertically.

I will sell out of 2/3 of my long position at 1.6410 in the hope/expectation that we see a dip back towards 1.6100 before the bull train really takes off.

  1. I don’t know about this one Sean , looks very fishy to me. Something is very wrong in the whole technical and fundamental picture with both cable and euro. I’m still bearish on both , will admit defeat though if we get a new year high on a closing basis.

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