CABLE has been trading sideways between 1.4100/1.4245 for three weeks, touching one limit after another. When the price reaches this level, the volume of long positions declines, as a rule. That is why traders may still use the approach based on a rebound within the range. The pound/dollar pair is likely to hover near the levels of 1.4100/1.4200 until it fixes below 1.4080 and breaks the lower limit of the channel. If the price consolidates above 1.4205, it will trade in the upper part of the range.
I'm neutral until it breaks out of cannel, looking for shorts.
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