Comments on: Cable: Looking to start building long position again https://fxww.com/cable-looking-start-building-long-position/ The Professional Source Sat, 15 Nov 2014 12:54:12 +0000 hourly 1 By: Jack1 https://fxww.com/cable-looking-start-building-long-position/#comment-121818 Sat, 15 Nov 2014 12:54:12 +0000 http://381c099c8f.nxcli.net/?p=14312#comment-121818 If range trade view on weekly, then, cable should slip down to 1.48 lvl or 1.35 lvl. But, an up trend line from 2009 low to 2013 low is about 1.52 lvl. Daily view lacks any range reference at momentum.

So, it is hard to build any long on cable. Daily and weekly candle down bar series just start. eg, daily down bar is at 3rd bar. Often run 9th bar to 13th bar.

On fundamental and macro aspect, there is no drivers to support UK solid growth with low inflation expectation. BoE expect 2% inflation rate with 3 years period. 3 years is too long, too negative. BoE used this way to push down pound. So, the market price is following BoE, which is a normal behaviour and +$ for Xmas.

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