Category in GBP crosses

Cable: Another downside try likely in early European trade

There is important technical support in the cable at 1.5155 (double-bottom neckline) and 1.5180 (61.8% 1.4830/1.5750) and of course EUR/GBP is also sitting just below important resistance. In other words, there are likely to be plenty of sell-stops in the GBP and I’d expect the London market to have a serious look at these once

GBP: Giving bulls like me quite a fright

Maybe my GBP bullishness of the moment is totally misguided or perhaps I’ve gotten the timing wrong, but the price action yesterday in cable was very bearish and rallies were almost non-existent until Europe closed. EUR/GBP is back up towards the upper end of its short-term ranges and cable has closed below previous technical support

Cable: Entering a bullish technical phase

The double-bottom on the 4-hour (see chart) was followed by a very strong rally to 1.5750 and this move is currently retracing. The 61.8% retracement of this entire 1.5010/1.5750 move comes in near 1.5290 and if the technical set-up is to remain strong then these types of levels should hold. I’m building a long-term strategic

AUD/USD: Edging towards upper end of recent ranges

The majors have stayed fairly quiet today in Asia and I haven’t really gained any valuable insights from today’s listless session. The AUD/USD remains of most interest to me as I’m in bottom-picking mode and am finally back in profit after a few long nights. I’m sure the macro bears out there are still comfortable