Cable looking a little oversold and beginning to turn on 60 min charts to show a move higher.. 1.5690/00 offers short term resistance and whilst we stay below here we should see further weakness with 1.5665/60 looking to entice. The base of this pattern comes in at 1.5660 and this intersects another trendline at 1.5659 so around this 1.5665/60 area is going to offer good support..We would advise going into longs on weakness to here, and holding unless we lose 1.5620
Now as stated we have resistance at 1.5690/00. If we break 1.5730 , we can see this coming higher to 1.5775/83.This just happens to be the July highs, and also is very close to the measured target from this flag formation.
So there should be quite a bit of selling pressure here, linking in with fresh seller coming into the market..We would advise
covering any longs just prior this resistance, just to be sure of getting filled.