Cable plunges; 1.48 next bear target

  • Cable broke sub-1.50 earlier and some decent downside momentum has been building since then
  • Aside from the broad USD strength, UK political risks are again coming into focus
  • The pair is currently testing the January low at 1.4950, but this isn’t likely to be much of an obstacle for GBP shorts
  • The next significant support area lies between 1.48 and 1.4830
  • The 2013 low lies at 1.4812

GBP

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