Cable: Time to reinstate my long position

Even though the market hasn’t rallied appreciably since the break above technical resistance at 1.6165/76, the dips have also been very shallow so I’m reinstating my long cable trade but have a tight stop-loss on it below 1.6120; my target is 1.6500 minimum. I believe much of these GBP gains will eventuate through a lower EUR/GBP cross.

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