Cable traders have been whipsawed today.
GBP/USD formed a double-top on the intraday chart at 1.6062 and shot lower in the past hour, down to 1.6006, potentially on fixing demand.
On the daily chart, the 55-day moving average has successfully capped rallies this week.
Bids now seen at 1.6000/05. where the pair bottomed yesterday.
