Cable failed to start of a new leg lower and instead recovered and has moved back up to the consolidation range high. Tough overhead resistance is hampering efforts by bulls to push higher although there is a possibility the target could be reached. If it is then a breakout from the entire range is quite credible given volatility has reached extreme lows. A move above 1.6270 would provide an initial indication of breakout, although a breach of 1.6300 would be more definitive and could signal a move up to 1.6430.
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