I have used the jump in Cable today on the back of in line UK inflation as a chance to sell. The move is back to the neckline resistance of the intraday top pattern and is stalling. Technical indicators suggest this is a return to the resistance of the falling 55 hour moving average (currently $1.6730) which is where the rallies are falling over. The downside target from the top is $1.6620.
I have placed my stop at $1.6757 (40 pips) which is above the reaction highs from the last two days at $1.6749.
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