Once again the ground north of 1.6500 has proven too rich for cable. S&P futures are sliding, presently off 6 points, and this won’t be helping the pairing’s cause at the present time. Just been told by a source they’re seeing “interesting names” selling cable, which might be a little worrying if you’re a cable bull. We’re presently at 1.6470.
Technical support looms large down at 1.6430. Gotta be sell stops parked just south of there, doesn’t there?