CABLE looking increasingly unstable

From thinkforex.com

For now, Cable has found support above 1.575 and at the lower Bollinger Band to suggest a snap-back towards 1.58 - 1.585. However the DPO (Detrended Price Oscillator) has not yet reached its natural level of support which itself suggests we could see direct losses towards 1.566 before it reverts to its 20 MA. Yesterday’s Bearish Engulfing Candle marks a swing high so any retracements within this candle range may provide a better price to get short. I will now be seeking any opportunities to sell into any rallies. 1.566 and 1.561 seem perfectly feasible with the negative sentiment surrounding the UK, assuming ... (full story)