CCY Corner: On EURO CABLE & Cross Rates

With the disappointing data in UK, we've seen CABLE making another new low (3rd of a series) which built up the momentum & declined to its price objective @1.4350 levels before pulling back up on the close of the US session @1.4445. For now, the 1.4350 has been marked as a good initial support level for GBPUSD.

An expected relief price recovery is expected while Asia session today have seen CABLE trading @1.4490. The decline effectively flowed to the correlated EURGBP Cross where it made a brief session high @0.7554 that likewise made a similar pullback to its current price @0.7480 to this writing.

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