With the USD stronger against cable and euro in NY trading cable has taken out stops below 1.5340 as sellers continue to follow the pair lower. Cable has traded down to a low so far of 1.5313, just short of the 100-DMA at 1.5311. The next support is noted at the 1.5273 June 4 low. Resistance appears to be developing on the hourly time frame at 1.5345.
