It’s been something of a rollercoaster ride for cable so far this morning. Having rallied nicely to the 1.4990 area, cable is presently back down at 1.4935. Sterling’s cause won’t have been helped any by comments from BOE’s Sentence this morning, which suggest the bank isn’t overly bothered by the pound’s recent fall from grace. Far from it infact, it sounds as though the authorities are quite happy with the way things are going. With cable, 1.5000 will now obviously be a huge psychological barrier to the upside, and we’ve already seen a retreat from said level this morning. I’d hazard a guess, that given this fact, large buy-stop orders are probably gathering just north of said level.