Cable retracing the move down to 1.5446 and the previous support has turned into resistance as 1.5480 caps the move up for now.

gbpusdh1 07 05 2013

If I was a betting man I’d hazard a guess that there might be some selling ahead of an approach to 1.5500 should we get that far.

With the BOE announcement on Thursday and minimal data tomorrow we could find ourselves in a tight range for now (tape bombs aside).