Cable has bounced back above 1.6300 and is absorbing the Asian central bank offers in the 1.6310/20 region.

The pound has served as a sort of safe-haven from Greek turmoil in recent sessions. Every time there is a negative Greek headline, EUR/GBP dips and Cable goes bid.

The latest headline is that the spread between German and Greek debt has widened to a three-week high at 269 bp.

1.6340 is next resistance for the pound, followed by 1.6411.