Cable earlier reached aforementioned technical resistance up at 1.4230/35 before seeing a very sharp reversal of fortunes, presently down at 1.4055. The move comes as stocks take a turn for the worse, but the speed with which cable has declined is quite scary, reflecting the thin trading conditions cable traders have to live with. From a technical perspective support now lies at 1.4020. Wouldn’t take much of a positive turnaround in stocks to see us back above 1.4200.