Despite solid inflation numbers (particularly retail measures), Cable turned lower yesterday and continued to decline in the aftermath of a decent US retail sales report. Though, the direction is not clear at the moment as this is all likely a part of pre-FOMC consolidation.
Initial support is seen at 1.5320 - 1.5335 (Low Of Day, Previous Day Low, 50.0% retracement of the September 4th to September 10th upswing) and then at 1.5280 - 1.5300 (00's, Daily Support 1, 61.8% retracement). Some resista…
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