Cable enjoyed a brief sojourn above 1.6400 earlier, reaching a session high 1.6409. Sean overnight had mentioned talk of middle east offers in cable above 1.6400 and he was right on the money. Sources have confirmed that middle east sold above 1.6400.
Sources also cite decent Russian and Asian sovereign interest behind the early rally.
There is now talk of sell orders lying in wait at 1.6420 up through 1.6440.
