Cable has been consolidation for the past week or so. Although price has been slowly drifting up there are some signs that a reversal may be around the corner.
From the chart below you can see that price has remained below the 1.6850 level and that there is a divergence between price making Higher highs and the oscillating indicators.
Chart below:
I would like to see price hold below below 1.6850 and make a move lower through 1.6750.
Once the lower low is in place the averages will have crossed over and I will look for a short on the pull back.
Chart below:
I will update again should price break down and I decide to enter a position.
Have a great weekend.
Namaste
MDT
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