Cable duly moved higher and has taken out aforementioned barrier option interest at 1.6000, reaching a session high 1.6007 before settling back to 1.5995 at writing.
Reports of buy stops above 1.6000 seem to have been wide of the mark, or maybe they’ve been placed a little higher, say around 1.6010. All in all a little disappointing for cable bulls not to have gotten a bigger lift from breach of psychological 1.6000.
Technical resistances now 1.6005/10 and then 1.6050.
p