Looking at the charts, Cable is currently in a bearish trend which could continue for the forseeable future. It we look at the channel of the trend, the lower lows and lower highs are hitting the trend lines. All together, this is following the downward trend as the dollar weakens. At some point the trend will break out, but looking back at historic data, these trends tend to last for several months before a big shift - linked to the news, better trade terms, increased trade or market economics. Of course, the elusive B word is still impacting this currnecy pair. If we consider where cable will be post January, then who knows !!
Comment:
* Pound weakens I meant - just had all time lows... This call was CORRECT.