Cable approacing 200-day moving average

Author: Adam Button | Category: News

Cable is flirting with the 100-day moving average and in danger of falling below the 200-day moving average, for the first time since Aug 20.

Sizable bids rest from the session low of 1.5858 down to 1.5850, ahead of the 200dma. Below I peg the next level of technical support at 1.5800/03 which is the 61.8% retracement of the rally since August.

In the near term, an option expiry at 1.5900 at the 1500 GMT cut could spark a small bounce.