How Low Cable

by Ashraf Laidi

Mar 9, 2009 12:34

Cable's sell off ensues on the negative news flow from UK banks (latest round of govt nationalization dubbed as insurance and flurry of realized/unrealized banking losses). GBPUSD shrugs the improvement in risk-seeking trades in FX (seen in yen selling) and extends losses towards a 5-week low of $1.3860, which coincides with the 76% retracement of the $1.35-$1.4997 move. A break below this level is to make way for fresh downfall into the $1.3650. $1.3990 and $1.3960 will emerge as key resistance levels in the days ahead.

More Hot-Charts

• Oil Still Holding

  Oct 12, 2026 16:25 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group ..
• 

  Gold Failure or a Pause?

  Oct 12, 2026 13:41 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group - -...
• 

  Gold Failure or a Pause?

  Oct 12, 2026 13:41 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group - -...