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It turned out that a rally in Cable in the beginning of the week was just a massive short squeeze as the pair turned lower yesterday and continued today after much weaker than expected Manufacturing PMI.
It posted long shooting star on the weekly chart, which implies further losses in the week ahead. That scenario is now strongly supported by weaker fundamentals and UK election to come next week is not helping it either.
It posted long shooting star on the weekly chart, which implies further losses in the week ahead. That scenario is now strongly supported by weaker fundamentals and UK election to come next week is not helping it either.
