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Cable claws its way back near the highs

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Selling into the fix reverses

Selling into the fix reverses

Cable was clobbered into the London fix but it has slowly fought its way back. It’s a reminder that the best trade on the fix is usually to fade any big moves.

If it can get above today’s high, then 1.3898 is the level to watch next week. That was Tuesday’s high.

In terms of sterling trading, Monday is going to either be euphoric or painful after Sunday’s Euro 2020 final.

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