Cable breaks major support 1.5350 after BOE Inflation report, targets 1.5200
Cable has broken major support 1.5360 after release of BOE Inflation report. BOE inflation report says CPI inflation expected to remain below 1% until second half of 2016. The dampening effect of sterling rise to persist…
Cable has broken major support 1.5360 after release of BOE Inflation report. BOE inflation report says CPI inflation expected to remain below 1% until second half of 2016.
The dampening effect of sterling rise to persist after H2 of increase in interest rate will happen only in first quarter of 2017.
Technically it has broken major support 1.5350 and declined till 1.5280. Overall trend is weak as long as resistance 1.5360 holds.
On the downside any break below 1.5280 confirms further weakness, decline till 1.5200 is possible .
Slight bullishness only above 1.5400.
It is good to sell on rallies 1.5295-1.5300 with SL around 1.5351 for the TP of 1.5200
