P&F GBP/USD

Posted by Johnny Bravo / 8:12 a.m. @ Hong Kong

Mar 10

Bit late after that move in GBP, but this looks like T H E trade to me – according to my chart.

With the shocking RICS data, CABLE took out the lower side of the “Bear Flag” (see blue lines), which should open up for a bigger move lower.

Suggestions: Sell CABLE between 1.5040-60 S/L above 1.5120.. bit expensive – but this might have “home run” potential.. urrghhh… Next support is 1.4800, then 1.4600-20 – inital target – and even 1.41ish afterwards. Would love to buy some options for that – but the RR – of course- is making this impossibly expensive.
Anyhow, see how we fare…
Good Luck!