Cable Exhaustion: Fundamentals back in play
Bulls getting exhausted.
This was simply a short squeeze with no fundamental catalyst.
Strong bearish divergence on 4H chart.
Fundamentals should come back into play.
Brexit likely to have negative effect on UK growth. Monetary policy divergence vs Fed and global USD shortage remains.
Real money will begin to flow out of the UK, serving as the catalyst for the next short leg in Cable.
This was simply a short squeeze with no fundamental catalyst.
Strong bearish divergence on 4H chart.
Fundamentals should come back into play.
Brexit likely to have negative effect on UK growth. Monetary policy divergence vs Fed and global USD shortage remains.
Real money will begin to flow out of the UK, serving as the catalyst for the next short leg in Cable.
Trade active:
Slow but steady.