Cable holding key support again after weaker PMI data via ForexLive

Yesterday I higlighted/warned of good tech support down at 1.6167 which was the 76.4% Fibonacci retracement of the 1.6059-1.6523 move

Now we've posted 1.6162 after the weaker mftg PMI reading but currently back at 1.6175. Bids lining up down there with stops now below 6150-55 reported

I've taken some money again on this dip and will resell (again) into rallies around 1.6210 and 1.6250 as per my post yesterday. Or earlier if it runs out of steam on the rebound.

Rinse n repeat for the moment. What's  not to like ?

posted via ForexLive