British Pound Technical Outlook

Published April 8th, 2008 - 04:08 GMT
Al Bawaba
Al Bawaba

Cable is finally rewarding our patience.  The decline has accelerated and we are confident that wave C (or 3) within the bearish cycle from 2.1160 has started. 



Remember, the longer term (a month or 2 out) objective is not until near 1.8500.  Risk on short positions can be moved to 2.0047.