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Hinges On 1.27 Over-arching dollar......>

CABLE TECHS
CABLE TECHS: Hinges On 1.27
Over-arching dollar strength pressed the pair to fresh cycle lows of 1.2662.
Despite the pair remaining oversold on a fair-value basis, it is not yet at
extreme levels, suggesting further weakness could be in the pipeline. Bears look
to target the June 21 2017 low at 1.2589, below here opens the Apr 10 2017 low
at 1.2351. Bulls need a sharp move back above the 1.2835/40 area to stabilise
the near-term outlook and attempt to reverse the acute downtrend.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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