As Brexit appears to enter its final stage, Cable is looking ready to take on all-comers.
Starting the month at just under 1.2300, the pair now trades above 1.2800 - holding a 500 pip gain currently.
Of course the right question to ask is where to now?
My bullish bias remains solidly intact above 1.2750. I'm still a bull above 1.2550; only closes below the latter would turn me short on the pair.
However, we're probably in for a rough ride. I think a spike down to 1.2550 is extremely likely. I will be looking for signs of bulls stepping in at that level to join in a long recovery.
Starting the month at just under 1.2300, the pair now trades above 1.2800 - holding a 500 pip gain currently.
Of course the right question to ask is where to now?
My bullish bias remains solidly intact above 1.2750. I'm still a bull above 1.2550; only closes below the latter would turn me short on the pair.
However, we're probably in for a rough ride. I think a spike down to 1.2550 is extremely likely. I will be looking for signs of bulls stepping in at that level to join in a long recovery.