Cable: Time to be long again
I’ve been dipping my toes back in the long-GBP market for the last few days and I feel that the upside pressure is about to intensify. Some of the crosses, particularly GBP/AUD and GBP/NZD, showed me that they are trying to base and I am expecting a strong move higher into the mid 1.30’s in coming weeks for cable.
Care is always needed with cable, as it’s ‘noise’ can be 200+ pips so we will need to be attentive. But as long as it ‘looks bid’, I’m going to be long. I have started accumulating near 1.2750 and as always, lets see what happens.
Have a great week.