The signs are looking ominous for the pound with cable now settling below 1.5000 and looking as if it wants to fall some more. EUR/GBP has failed to break below the important .84 support level despite the precarious debt situation of many EU member countries and if this is the honeymoon period for the new British government, watch out if the nightmare period begins.
1.45/1.50 are the range parameters here and playing the edges of this range with a bearish bias looks like the logical strategy.
