Cable reaches 1.2331 after pushing its recovery envelope from 1.2262

1.2262 was early London low, before Putin speech event risk nL2N2X10AT

Putin's speech was largely notable for what he did not say nL2N2X10A0

1.2262 was 10 pips shy of June 2020 low (1.2075 = May 2020 low)

Rally from 1.2262 aided by some profit-taking on short positions

Net GBP short held by IMM speculators up for 9 weeks in a row nL2N2X10IH