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Cable down close to 200 pips this week

GBP
  • Cable support comes at yesterday's low 1.3606.
  • GBPUSD has lost close to 200 pips this week, as Rate traders unwind some of the massive rate hike repricing path.
  • Front month Short sterling December has pulled back 17 ticks this week.
  • March 2022 has gaped higher yesterday and has pared 11.5 ticks this week.
  • Further out and looking at the red strip, LH3 (March 2023) is up 4 ticks today and has retraced 16.5 ticks this week.

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