CABLE & EURGBP Crosses on the Move in late Asia

Cable's prevailing bearish channel dominates the overall trend direction. However, interim price recovery with the traditional up/down swings after failing to move past the 1.3180 - 1.3400 range levels before this decline. As the expanded time cycle have followed sentiments post UK vote on Brexit.

Hardcore Brexit sentiments prevails as a good support for the USD to maintain above its 95.05/10 levels for the start of the new trading month and the last quarter of the year. Let's see how these market reacts in sustaining a relative support for the stocks moving forward this week as currency volatility returns in the European markets. #CABLE' low in late Asian trading @1.2844 after failing @1.3120 as stated.

Revisitng our June 14' 16 chart from our trading journal defines a directional trend call is still valid as the overall sentiment  of the market post BREXIT. Would it take another Post BREXIT market sentiment to push the USD back to a good rally? And the end-result for a real serious decline for the Pound can now be seen nearing the 1.2770 levels again.

Although, the 1.2845/50 and 1.2550 range would provide some interesting moves for a tug of war positioning. Will have to see and watch how market reacts towards the next few weeks of the 4th quarter 2016. An 'Effective Strategy between #CABLE & #EURGBP' cross rate has again proven its true worth until today as a counter trade strategy. Applying these strategies properly is another story. Timely execution is necessary along side a true directional trend and conviction of market analysis.

Revisit: #TSOT - CABLE - GBPUSD Strategy