Cable

With dollar having been bullish through out 2021 this had a impact in the sterling pound.Higher dollar lower cable.90% of the time cable is negatively correlated with dollar. Having seen all that as the year ended cable seems have found support at 1.3180.This level is of highly significance because on monthly timeframe there is an Orderblock and hence offering support at that zone.

In relation to that towards the end of December Bank of England issued their interest rate policy statement and its at 0.25 %.This is a major increase from 0.10 % hence we expect to see some positivity on cable.Having said all that my sentiments is that cable will be bullish in the coming month of January and Part of the first quarter. The images below from monthly to daily gives the illustrations and anticipation on where price could move to.