…until it does it is going lower, possibly to 1.3630. The 1.4500 level is certainly a long way off which means the Cable has plenty of work to do to get even close. A look at the hourly chart shows us that 1.4300 is now the first decent level of resistance and it is worth getting short with a 1.42 handle and running a stop above 1.4300 but only in smalls to see if we hold 1.4300 again.
The attached daily chart paints a pretty grim picture for the Cable which technically, doesn’t have a great deal going for it.