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Cabel tops out and takes out the 38.2% retracement
Cable since November is emblematic of the broader market. It carved out a range only to make fake breakouts on both sides. Rate hike expectations have moved up in the UK but they've moved up even more on the US. That's led to a push and pull in this pair, along with deep uncertainty about growth and how long rates can stay high.Technically, it's been a mess. The break downside in March came as bank worries threatened to spread to the UK but that turned out to be a false alarm. On the upside, UK...
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Posted: May 25 2023, 17:34
Author Name: forexlive
Views: 110727