Buy stops busted above 1.2500
Reversals don't get much clearer than cable today. A drop to 1.2350 ran into a rock-solid floor of support and the buyers arrived at the London fix and have been hammering the bid.
Cable is now nearly 200 pips off the lows at 1.2526 and threatening a three-day high.
Intermittent strong bids in the pound have been hitting all year and I think that's a signal that can't be ignored any longer.