The very bullish run of the Cable now seem to want to take a breather, going by the price action sell setup spotted at the close of trading today. A Pivot Top Price Action Setup (as we have on its daily chart now) is a three candle pattern where the high of the middle candle is higher than both the highs of the candles to its left and to its right. It signals a reversal to the downside might be setting up. In the anticipation of the expected retracement or reversal, the trade room made an early sell entry, with a SL of just about 30pips at the time. Expectations are for the pair to be priced lower as we approach the last couple trading days of the week and if this happens, we will be watching the demand zones as depicted in the chart above for possible buy signals.
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