Well not quite, more like non-farm payrolls. Cable at 1.6345 is very marginally firmer from where North America closed out Friday, but it’s quiet.
Good to see cable down a bit. As I said at the time, I was a little surprised to see it up at 1.6370 yesterday. OK, it went up another 40/45 points, but that’s cable just doing it’s thing. Better levels to sell at, I guess.
Anyways, yesterday I was talking to a mate of mine, who certainly knows his onions. He was saying the market views 1.6380/00 area as rather important for the cable’s short-term fortunes. A close above would apparently be taken by a fair few as a bullish signal. Just a little something to tuck away in the old brain box for possible future reference.
For today, technical support 1.6305/10, resistance at 1.6375/80.