Cable falls to fresh two-week lows, faces test of key technical support levels

cable falls to fresh two week lows faces test of key technical support levels

Sumary of Cable falls to fresh two-week lows, faces test of key technical support levels:

  • The pound drops quickly from 1.3730 to near 1.3670 to start the session That is proving to be a bit of a double-whammy for cable to start the session as price now falls towards the 25 March low of 1.3670 and the 100-day moving average (red line) @ 1.3675..
  • Despite all the optimism surrounding UK economic prospects, the charts are a tough one to argue with as evident by the EUR/GBP push this week…

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