Cable has come under heavy pressure, presently at 1.6350.
Risk aversion has picked up with global stocks suffering, and this will be underminning the pairing.
Also there has been good demand for the EUR/GBP cross this morning (session high .8619 so far, with aforementioned buy stops around .8610 triggered) which will be weighing.
Sell stops were also triggered below 1.6400.
We’ve also heard USD supportive comments re global reserve currency status out of China and Japan, which will be lending greenback some general underpinning.
Technical supports for cable now 1.6345/50 and 1.6320.
