FX Technical Volume Strategy: Cable divergence points to a top

– Event risk later in the week is keeping trading subdued for the time being.

– GBP/USD – OBV divergence suggests a top is forming and risks into next week are to the downside. 

– EUR/SEK volume increased again as price rose implying further upside.

– CAD volumes are very low given the higher volumes in the other commodity currencies.

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Barclays Capital