February 8, 2023

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Cable on the defensive after failing to break 1.40

1 min read

Cable falls into month-end

Cable falls into month-end
Cable is at the lows of the day in a quick fall to 1.3869 from 1.3900. Yesterday I wrote about May seasonals in GBP/USD and suggested selling the pair because it’s such a weak month for sterling.

Technically, it looks to have failed in another test of 1.40. This is the fifth effort to break above that level since the start of March.

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