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As we know, the cable is eagerly played by many investors because it has a high liquidity and market depth. The patterns are quite clear and the corrections are full. Looking at today’s macroeconomic data, I would see a scenario like the picture below. At 14.15 European time the market expects the reading of “changes in employment due to ADP farming” and the forecasts are four times weaker than the previous reading. This gives us a chance for a further appreciation against the US dollar. Of course, it is not certain that it will be so because the market reacted yesterday to what investors expect today and it can be clearly noticed on both the American and German DAX40 indices, which were inflated before the end of the session.

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