Cable is back near the magnetic 1.60 level after the BOE decision. The pair fell to 1.5929 in Europe.
I see it as rejection of lower levels and a potential signal of a retest of the 55-day moving average at 1.6053.
Offers lurk above 1.6040 but the three days of choppy trading just below 1.60 signal an impending big move. A 1.60 option also expires at the top of the hour.
