FXWW News/GBP crosses/Technical Analysis/Trade Ideas

Cable: Prefer to buy intraday dips to 1.5430

The main factor still for me in the cable is the impulsive nature of last week’s move from 1.5200 to 1.5500; if a market moves this fast then its showing it’s weak side. But as always, getting the timing right is the hardest part about trading the pound and with EUR/GBP still stuck around .8600 and with GBP/AUD looking decidedly s/t bearish, it doesn’t quite feel like the time to be piling into large Cable long positions.

Initial support lies at 1.5480 but I prefer to be patient and buy deeper dips towards 1.5430 (see chart).

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