Cable drops to 10-DMA, is the top in place?

Cable is hanging around 10-DMA level of 1.2961 after the post-retail sales rally fell apart at 1.3020.

The 1-hour 200-DMA level of 1.2965 has been breached. The quid has retraced 50% of the rally from 1.2812. 61.8% is 1.2932 – that is where the current sell-off may come to a halt, although I prefer to be a seller on upticks…

 

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