Cable got to within a quarter of 1.7420 yesterday, the 50% retracement of the rally from the 1.36-handle in 2001 to the 2.11 handle in 2007. The bounce from Thursday afternoon’s lows has been fierce, bouncing to 1.7870 so far. Upside targets near-term are 1.7975/80, a huge resistance level, above which a durable bottom will have been put in place.
Featured Videos