I still favour the analysis that cable is trading sideways between parallel trend lines with parameters now at 1.5500/1.6750. Risk/reward favours long positions at current levels but a break below 1.5400 will negate this analysis. The hourly chart is also in a sideways pattern between 1.5550/1.5750 and, based on my longer term view, I prefer to play this range with a bullish bias.