The close in cable is quite bullish in my opinion and improves the chances that an interim base is now in place. I’d look for dips to be contained now above 1.4500 and the next technical target is 1.5050. Playing the edges with a short-term bullish bias is my preference. The economic news out of the UK has been ‘non-alarming’, another reason for shorts to consider covering their positions. The longer term charts still look quite bearish but a pullback towards 1.55/1.57 looks quite possible before the downtrend reemerges.