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Did the Cable Just Become a Short?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The last few weeks have been relatively strong for the venerable Cable as the pair has continued to be buoyant following a broadly negative streak for the US Dollar. However, it appears that some sharp falls could be on the horizon given that a key ABCD pattern has just completed. Despite the Cable bulls running rampant around the village over the past week, technical indicators are now signalling that a pullback could be looming for the currency pair. Taking a look at the hourly chart shows

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