[B]Commentary:[/B] Cable has broken under the May low at 1.9676, negating the bullish setup and indicating additional bearish potential. More importantly, the pair has dropped under a support line that dates toApril 2006. The next potential support level is the 100% extension of 2.0131-1.9676/1.9964 at 1.9509.
Any rallies should be treated as an opportunity to align with the downtrend. Initial resistance is at 1.9715 [B][/B]
[B]Strategy: [/B]Bearish at 1.9715, against 1.9791, targeting 1.9509 and 1.9228