CABLE WEAKNESS INCOMING

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From a Technical standpoint we can see solid resistance forming in this current supply zone, which supports a RETEST of the SHOULDER that has formed around 1.19 Area. There will be a significant fight here however, as the downwards momentum of STERLING is very strong.

Fundamentally the outlook for GBP remains very challenging as opposed to the US Dollar. Whereas Powell is going to realistically need at least one or two more hikes, the BoE is in a rather precarious position. With inflation peaking the Bank of England doesnt have much more room to keep pumping rates up, while other economic factors arent coming as strong in England as they are in the USA, with USA JOBS and consumer index keeping the dollar strong.

Look for CABLE to retest lows at 1.19 and potentially dip further if price action allows it
注释
CABLE TOUCHED TOP OF FIB 61 ZONE AND REJECTED BEAUTIFULLY

SHORT ENTRIES SAFE

STOP LOSS ABOVE FIB ZONE @ 1.222
注释
CABLE WEAKNESS HAS PLAYED OUT

GBPUSD ENTERED SUPPORT BOX AND THEN EXITED THE ZONE

LOOK FOR BULL MOMENTUM TO RETURN
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