Cable bounded back and nearly reached 1.4880 target hitting 1.4874 twice...We also now have bearish sort term stochastics...therefore a move to the downside should be the way it goes today...
Look to sell into any short term strength back to the 1.4870/80 area, keeping stops above 1.4920...Hold shorts and cover to 1.4835/30...
Look to re-sell below 1.4800 as a loss of this support keeps the pressure to the downside for 1.4750 once more...Again look to cover shorts...
Re-sell below 1.4750 as further selling pressure would be evident then and we could well see the market react lower with 1.4690/85 the short term objective..
Now above 1.4920 we see the market coming back towards 1.4990 where once more we look to instate shorts...
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