Cable is, in my opinion, a difficult pair to trade based on Fundamentals at the minute. One of two scenarios I'll be trading. If we get a break of this medium-term bullish channel, then I'm eyeing 1.52 area as a short target. If we get a bounce that, at the time of writing, is looking more likely, then I'll be long looking at a target of 1.615 area, confluence with the first Fib extension.
Fundamental side: USD risk of not raising rates until Greece situation is resolved. Sterling has been very strong recently with constant improvements in data across the market, with a hike still on the cards for 2016.
Fundamental side: USD risk of not raising rates until Greece situation is resolved. Sterling has been very strong recently with constant improvements in data across the market, with a hike still on the cards for 2016.