Possible Pivot point in Cable as mentioned in prior posts.

I have been trading this descending channel quite succesfully for a little while now and have previously posted on this. My Bias is back up but in very specific circumstances.

1. Bullish continuation in US stocks. Weaker dollar.
2. I am not entirely convinced the interest rate rise is priced into the GBP.

I have taken a very small position until I see how the US500 plays out. If we see a sell off this will invalidate the trade for me and I suspect we will see the sub 1.33 areas. If there is continuation in the equities, I will look for entries to scale in on the way up. The upcoming interest rates should hopefully potentiate this. Keep an eye on the consolidating picture Trade Safe!