Cable

Whilst cable did accelerate lower from my initial top at 1.58795, we failed to reach our target zone around 1.5580/95.. only reaching the 100 fib at 1.56479...the sharp rebound higher on shorts unwinding looks to have caught a fair few punters off-guard today.

The 4 hourly chart is still in bullish mode although expect some profit taking at current levels where the new  AB = CD would complete - 1.5885. Also on the radar is the key Daily 200 Sma a tad above us at 1.5905. 1.5905 has also been a pivotal level for cable over the last 5 months.

Daily -

4 Hourly -