With a break below its daily rising trendline yesterday, the Cable has confirmed a bearish bias thus we expect a continuation towards next key support at 1,60 (weekly bollinger band).
The pair is pulling back a little today towards the former trendline support ahead of the NFP release. A break below 1,6130 (today’s low) would accelerate decline.
A break back above 1,6460 (weekly high) is now required to alleviate the downside pressure and allow a bullish development.
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