Cable managed to bounce when finding technical support down in the 1.4830/35 area but the rally seems to be running out of steam a little as US stocks turn lower.
That said the most recent US data, although a little mixed, is probably a net plus to risk sentiment and this should lend cable some underpining.
Another thing supporting the pairing is the fact that EUR/GBP still doesn’t want to mount much of a rally and continues to look heavy (well at least to me)
Technical resistances now up at 1.4905, 1.4920/25 and 1.4945/50. I have a feeling, but no firm evidence, that there are likely hefty buy stops lined up just above 1.4950. That’s probably for another day though.
