Cable staged a sharp reversal day yesterday. It fell 130 pips in European session and then rose 200 pips in North American session as shorts were squeezed and bottom pickers stepped in. Hawkish comments from BOE's Forbes and May's remarks on partnership with China were cited as fundamental drivers.
After trading below 1.25, 50 DMA and 100 DMA intraday, the pair closed the day above all three. The moving averages are the first stronger support levels to watch while the big figure could be used as…
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