Cable continues to zone in and around 1.1800 for now

There’s been very little in terms of proper direction to work with in the pair as trading this week has been centered around the focus on Fed chair Powell’s speech at Jackson Hole. There has been pushing and pulling in the dollar, with cable pretty much stuck in a bit of a rut in and around the 1.1800 handle.

The 14 July low at 1.1759 remains a key support to be mindful about on the daily chart and it is one to watch in case the dollar makes a bullish move in the aftermath of Powell’s speech later.

Michael Cooper

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