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Cable fell more than 200 pips yesterday after weaker than expected inflation report. Monthly jobs and wages report, released earlier today, came out slightly better than expected and that prompted a brief relief rally as shorts covered some. The pair ended the day near unchanged.
A weekly close below 2010 low (~1.4225) would likely mean a retest of January low (~1.4075) and possibly 1.40 big figure level. 1.44 seems like a decent resistance ahead of 1.45 and 50 DMA.
A weekly close below 2010 low (~1.4225) would likely mean a retest of January low (~1.4075) and possibly 1.40 big figure level. 1.44 seems like a decent resistance ahead of 1.45 and 50 DMA.
