When I left yesterday cable was floundering under 1.6100 in the wake of the crap Q1 GDP data and here we are back up at 1.6185.
I noticed good old Joe was pretty bullish even during the GDP-induced swoon, good for him.
Anyways back to today; talk of 1.6200 barrier option interest with sell orders parked just ahead of said level and buy stops just above.
Personally, and it’s only my gut feeling, I wouldn’t trust those buy stops too much (ie I wouldn’t be too certain of a spike higher on their execution)
UPDATE: Seems the buy stops above 1.6200 are in fact in the 1.6210/20 area.
