In a landslide decline that started in early Asian session and continued throughout European and N.A. sessions, Cable lost about 260 pips with the daily range of close to 290 pips.

The decline accelerated after the Brexit day low (~1.3225) gave way and stalled after briefly trading south of 1.30, the lowest since 1984. A proper stop run below the big level could send the pair another 100 pips lower and put 1.25 into focus.

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