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Cable has looked heavy since last Thursday's BOE meeting. Friday's NFP report didn't do it any favours. The pair has posted five consecutive down days since last Wednesday.
That said, bears were not really convincing so far this week as was not yesterday's (fake) breakout below 1.30. A sustained hold below the big level will be needed or else we may see a larger short squeeze.
That said, bears were not really convincing so far this week as was not yesterday's (fake) breakout below 1.30. A sustained hold below the big level will be needed or else we may see a larger short squeeze.
