Open trading account 
The second leg of post-snap-election-call rally in Cable looks intimidated by the big figure at 1.30. Much better than expected Manufacturing PMI yesterday helped to put in a near-term bottom. A catalyst for a breakout or a failure may come from FOMC today, NFP on Friday or BOE next Thursday.
Positioning in the British Pound futures still suggests an extremely short market. That should give the pair some fuel on a successful break higher, which would target 1.31 initially and put 1.33 into focus. 1.2850 is the initial support with stronger one near 1.2750.
Positioning in the British Pound futures still suggests an extremely short market. That should give the pair some fuel on a successful break higher, which would target 1.31 initially and put 1.33 into focus. 1.2850 is the initial support with stronger one near 1.2750.
