Yesterday's and this week's bearish bias was proved as an initial profit taking rise Tuesday triggered our sell rally level. The resulting renewal of selling pressure took CABLE to new 18 month lows and through our final weekly downside objective. Immediate signals for sentiment remain oversold but, currently, rally attempts (like in Asia this morning) are likely to remain temporary and limited.
So we look to Sell in 1.2510/15 area and any 1.2542 rally
Targets are 1.2479, 1.2451 or even 1.2406
Stop is 1.2580 bid
Closes 4pm London time