Cable started once again to move lower, although we did expect it to stay around
current level for a while longer if not even retrace. 1 hour chart displaying
the last few days show the pair trading inside the 1.8800 and 1.85 making lower
lows and forming a divergenge with the RSI 14(lower panel). The RSI also
signaled a short opportunity when it bounced from the 50 line for those who were
early risers this morning, but for the rest of us it is still pointing lower.
Making a new low under the 1.8500 level will certainly reinforce the bearish
bias and trigger some stops of those thinking a reversal was in place(me
included).
