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Cable fails at key levels – Video Analysis

Market Analysis

Cable Fails at Key levels – Cable logged a four-session low at 1.2915 before recouping toward 1.2950. UK construction PMI data for June missed expectations, while BoEspeak was mixed, with MPC member McCafferty arguing for a rate hike while his colleague Vlieghe warned that hiking took soon was worse than hiking too late. Therefore Cable seems to continue losses accelerated in lockstep with flurry of dollar demand following the strong ISM data out of the U.S. yesterday.  Intraday trades for Cable have been taken successfully within the day.

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Stuart Cowell

Senior Market Analyst

HotForex

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