Cable on its best run since 2012.
Earlier this month, analysts turned decidedly bearish on the pound as it slipped below March low to the lowest since 2010. Technically, it looked like a break down but it proved to be anything but.
GBPUSD current daily chart
Since then, cable has risen in 10 of 11 sessions; the first time it's had such a run of gains since 2012.
I noted earlier how April has been an extremely good month for the pound. What's especially interesting about the previous episode is that it also came at the end of April. I'll just show you how it ended.
The last big cable run at the end of April was followed by declines in 20 of 25 sessions
