We're at a significant point in the pound at 1.4100
Cable has just about survived an attempt on 1.4100 but the move looks far from over right now
I've been highlighting the recent falls against the higher timeframes and a look at the yearly chart shows the predicament the pound is in
GBPUSD yearly chart
Down here at 1.40 - 1.41 we see that historically, the price has held above the levels, save for fleeting moments (Fleeting in the context of this chart).
It's a very big level down here as I've been saying for a while and if it goes then we could be well on the way to the mid to low 1.30's
1.40 would be the ultimate big line in the sand but for now 1.4100 is key. As we've seen with breaks recently, when it goes there's very little looking back. Shorts be ready, buyers beware.
