Cable touches above the March high

Cable touches above the March high

Fifth day of gains

Cable edged through a notable resistance level on a break of the March high of 1.4245 by a couple pips before backing off.

Davis had some upbeat comments on the Brexit transition today.

There isn’t much clear air above with Jan/Feb highs starting in about 40 pips. The trade is tricky at the moment with some much hanging on Syria, Iran, trade and more. Nevermind all the swings in economic data, especially the ongoing disappointment in Europe.

Yesterday, it looked like breakouts were coming but in something like oil, it hasn’t really run away after breaking $66.66.

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