Cable daily

It's very complex pair in my opinion, cause UK is in the same horrible situation then the States, and probably more than them.
Inflation and recession are coming, and BOE will have problem to solve the equations both at the same time. Choice have to be choosen correctly and all central banks have these dilemna at the present time. Do they have to fight inflation first in coming the country into recession or to help growth with low rates bossting inflation and destroying economy in the long term.....

We are working above the cloud but prices couldn't arrive to stay above 2.0000.
The 2 sen are crossing to the downside, span is going to work under prices which is bearish, cloud is very thin, RSI, and MACD are also their neutral levels to the downside.
Same feelings than on EURUSD, GBP can rebound from these areas to retest higher of the former months.
The 1.9380 seems to be well protected, any break of it will bring cable toward 1.9110-20 level and probably lower with objectives at 1.9000 even to 1.8630 area which is 61.8% fibo from 1.7065(Dec 2005) and 2.1161(nov 2007).

Currently we don't have open positions on cable

Be long @1.9692 withStop Loss @1.9552 target: 2.000 test and probably to 2.0150, before 2.0350 and 2.0480

Be short @1.9552 with SL @ 1.9692 target @ 1.9380 and lower as i said above.