Cable: at least it’s consistent!

The GBP/USD has been consistently printing a cycle of lower ‘Highs’ and lower ‘Lows’ since mid 2014. The pair seems to have the perfect storm raging against it with US$ strength, helped along by the recent FOMC, and GBP weakness, courtesy of Brexit, and this would support continuation of this pattern. However, trends do not last forever and there will eventually be the print of a Higher Low and a Higher High. I’m not in the game of predicting when that might be but, rather, suggesting that traders keep an eye for this turn when it does trigger.

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FX, Oil, S&P500: holding patterns.

The US$ is still making lower Lows and lower Highs whilst it hovers above 92.50 S/R. Oil is also holding near the $45 S/R level. The S&P500 has just printed a bearish Ichimoku Cross but remains above the support of the Cloud for now and a few FX pairs are also holding above S/R fib levels. I’m on the move a lot whilst away BUT not much on the trading landscape seems to be changing. The Cable still seems the one to watch as it treads water ahead of tomorrows BoE Interest Rate announcement.

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