Cable has been in a sidedways trend in recent months and my personal view is that this will eventually break higher. The market got ahead of itself at 1.5800, trying to buy cable whilst the GBP was offered on the crosses, but the stop-loss cleanout of the last 2 days might be giving us an excellent dip-buying opportunity.
The big level on the downside for me is around 1.5350, and buying any dips towards there makes good risk-reward sense.
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