Cable is in a down trend.
Price has pulled back to the 38.2% Fibonacci level.
Chart below:
On the 60 minute chart there is also some nice divergence showing.
Price is also forming a head and shoulders pattern.
Chart below:
I am looking for a short position when price breaks through the support level of 1.5328
Chart below:
I will update again with the entry levels if and when the break takes place.
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