Cable bouncing after the washout

Cable is in recovery mode after slipping as low as 1.5090 on stop-loss and barrier hunting.

We’ve overcome the 1.5125 area that should have put up a fight on rebounds and now trade at 1.5135. Traders are reluctant to hold shorts ahead of Thursday;s election, especially if the Tories can secure a majority at the polls.

EUR/GBP is sinking toward the 0.8593/8600 level, a key area of support. 0.8520 is the downside target on a clean break of support.

AUD/USD is bouncing after a washout of its own…It is back up to 0.91210 from 0.9086 lows. 0.9135 should provide resistance.