BRITISH POUND/US DOLLAR
Theresa May’s Iron Lady performance was matched by nerves of steel for those trading cable. The biggest one-day bounce in about nine years as consensus thinking comes in for scrutiny. Now back towards the middle of the range since October’s flash crash, it is no longer oversold. Moves are likely to become smaller and choppier.
SHORT TERM TRADER: Small long at 1.2275; stop below 1.2200. Target 1.2550/1.2600.
POSITION TAKER: Square.
| SUPPORT | RESISTANCE |
| 1.2295 | 1.2400 |
| 1.2200 | 1.2435 |
| 1.2080 | 1.2500 |
| 1.2000 | 1.2550 |
