After reaching it’s highest levels since February 2nd, cable abruptly sold off in early trading on Tuesday. Looking at the GBP/USD daily chart we can see that price has formed a bearish engulfing pattern. Lacking any fundamental driver, analysts point to a sharp rally in the EUR/GBP cross. Additionally, diminishing fears of a trade war between the US and China underpins the US dollar as investors move back towards ‘risk on’ sentiment. The rising trend line presents major technical support to the downside. A break out above the recent highs at 1.4241 will open the doors for bullish continuation to the upside and bring ... (full story)