This has been a big level for the cable, providing a weekly low which held for months, then providing very solid daily resistance which broke though on the third attempt.
Overall the cable downtrend is still dominant, so if trying to buy this dip, keep stops tight and don’t be too greedy on the topside.
EUR/GBP is also looking fairly constructive and longs are now preferred whilst the pair stays above .8450. I’m looking for a short term range somewhere between .8500/60.
