CABLE indeed have declined below an important support level @1.6745/50 and touched the 1.6690; well within the Ichimoku cloud formation. The bearish out look remains the same for now; whether a further continuation would persist would significantly depend on the USD's performance for the week.
Along this price angle, the EURUSD likewise have retested its psychological benchmark @1.3580, three times within the past few daily trading activity. And has shown a resilient price level before the upcoming ECB statements from Mario Draghi. However, on a pure price action analysis; combining these moves where two conflicting majors are at a TUG of WAR, the prevailing market sentiment for CABLE would weigh heavier when it comes to positioning with the EURGBP Cross CCY pair. Click here
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