Cable remains heavy, trading within major support area by Milan Cutkovic

  • GBP/USD has seen bit of a bounce in the early European session
  • Position covering ahead of the weekend might lift Cable a bit further
  • However, the overall outlook remains bearish amid broad USD strength and UK political risks again in the focus; test of the 2014 low at 1.48 just a matter of time
  • Selling rallies towards 1.50 is the preferred strategy

gbp

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