Despite a gap up opening in Asia on Sterling crash and a move higher to 7070, the subsequent retreat to 7030 suggests the equity markets are no longer impressed by the slide in Sterling and the over stretched bullish positions are at risk of being squared off, thus opening doors for a move lower to 6980-6950.
On the higher side, hourly close above 7070 would expose recent high of 7127 levels.
On the higher side, hourly close above 7070 would expose recent high of 7127 levels.
