Cable stretches to the highs since September, rising 150 pips ...Middle East

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Cable stretches to the highs since September, rising 150 pips
source : forex live ( Middle East ) () 23
Cable may have found a bottom.The US dollar has sold off broadly today but the pound is taking particular advantage, up 150 pips to 1.2349.It's the best gain since a powerful stretch of gains in early June. That series of gains is a reminder that the pair can run when it has fuel. Given crowded US dollar longs, I'd argue that there is more in the tank here, especially on a close above the October high of 1.2337.This pair has shown significant beta with equities and that's important to keep in mind. US stocks have rallied for five straight days, helping to sustain this run. Until today, there was some greater skepticism in cable but after soft non-farm payrolls, it's taken off.Comments from t

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