Cable falls to a ten-day low in a sharp turn as alliances begin to crumble

It’s a real mess out there many fronts right now and that makes it a good time to look at the charts.

Cable has my attention with the three-candle reversal that was completed yesterday. It was further validated by today’s decline, which is 40 pips to a 10-day low of 1.2560.

The pair is trading at a session low at the moment as uncertainty ratchets up in Europe following the disaster in the Oval Office today. You have to wonder if a broader schism is unfolding across the Atlantic. The UK has tried to find middle ground but that’s always a challenge.

This article was written by Adam Button at www.forexlive.com.