Cable having enjoyed an early rally back over 1.65 (1.6508 session high) has experienced a sharp reversal of fortunes, presently back at 1.6415 having posted a session low 1.6408 a little earlier.
Roger Bootle’s article in The Telegraph (posted earlier) makes interesting reading. He basically pours a good dose of cold water over burgeoning UK recovery hopes. Personally think he talks a lot of sense.
Technical suppport for cable now lies at 1.6395/05.
