Cable continues to swing around 1.4400 and 1.4600, as we mentioned a couple of weeks ago, solid bearish movement needs a correction and we thought it could be more serious correction. According to the figure, price bounced on 50% Fibo level and then bounced downward under 61.8% Fibo level. This movement made a channel for the mentioned correction. The most probable movement may be testing a 61.8% level as resistance level again. So we can expect a little bullish move for Cable and then see what will be the resistance level strength and response. Price may stay choppy between these two levels for a while.

GBPUSD 10 Feb

GBPUSD 10 Feb