Cable is still pretty much disconnected from the U.S. dollar trade as it consolidates near 1.25. Lower highs and higher lows are evident and the breakout, to either direction, will be the stronger the more time will elapse by then.
Depending on how you draw the trendlines, the support comes in near 1.24 and the resistance near 1.2525. I'd say a break to the upside is more likely but 1.26 or 1.265 could prove to be a near-term cap. In any case, 1.25 continues to serve as a good bull/bear line in sand.
Depending on how you draw the trendlines, the support comes in near 1.24 and the resistance near 1.2525. I'd say a break to the upside is more likely but 1.26 or 1.265 could prove to be a near-term cap. In any case, 1.25 continues to serve as a good bull/bear line in sand.
