magik

CABLE: "balanced" sellers 1.5700 & 1.5800, buyers 1.5360/80

FX_IDC:GBPUSD   British Pound / U.S. Dollar
8 0 1
Cable blasted ran the net buy stops through 1.5450- 1.560 last week and we are left with what net sellers clusterd around the 1.57 and 1.58 levels. These must be pushed through if we are to go higher. It's worth noting that the UK is finalizing a budget this July that is supposed to cut or eliminate the deficit. The details of this will be in headlines for a while.

Below there is an air pocket with buyers coming back in at the 1.5360/80 levels. At the start of the week I will likely be fading any pre London ramps higher as fake outs and covering before NY sits down.
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