Cable-retested the 1.6410 area as the dollar came under intense pressure at early afternoon but prices have stalled at that point and are now retracing modestly. Price do look like they will end the week near their highs but in unremarkable territory within the roughly 1.61/1.67 range that has prevailed for the same month.
Modest support on pull backs is seen at the 1.6375/80 level. More is at 1.6362, the 38.2% retracement of the 1.6285/1.6410 rally.
