The CABLE confirmed also yesterday further consolidation interior the inside day with 1,6110 – 1,5880 still the levels to follow in the coming hours. A break of the support will lead this pair lower suggesting a 1,58 undershooting.
The indicators of the daily chart are still positive while those of the s/t ones are mixed this morning supporting further consolidation.
Higher lows against a flat top suggest that the pressure is on the upside but only an hourly closing above 1,6080 will be able to extend the move up. A break of the support line at 1,6020, where we find also the 200 hours line, will instead suggest a retest of the 1,59 area!!
For the moment we prefer therefore remaining on the sideline following the inside day.
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