Cable fall finds the next round of support via ForexLive

Since my previous cable post we've taken out some decent bids between 1.6175-85 having failed to rally above 1.6210 and stopped right on the tech low of 1.6167 which is the 76.4% Fibonacci retracement of the 1.6059-1.6523 move

Bids at 1.6165 were not coincidental, even if not large, but it's been enough to put a break on the drop so far. More behind there at 1.6150 and all the way down to 1.6100

I remain bearish on the pair and a rally seller , now into 1.6210 and 1.6250. Risk-reward wise I still feel there is value even if 1.6000 now looms again.

My thanks to reader Soydan who sent me this some time ago in support of my mantra !

Have a good session, see you all tomorrow.

Keep Calm Sell Rallies

posted via ForexLive