Quick bounce for cable

The market is starting the week like a baby deer trying to stand up on wobbly legs.

Cable plunged 80 pips in Europe but has recovered more than a third of the decline to 1.6064.

Stop remain below 1.6020 if the recovery stalls. The Friday low/50% Fib at 1.6089 is resistance.

EUR/GBP is leading the move but offers at 0.8325 have capped gains so far.

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