Cable is struggling for any clear direction this morning, presently at 1.6430, pretty much where it opened up in Europe.
The release of better than expected June manufacturing PMI has provided a little support, but is it me or does it look a little tenuous?
Technical supports 1.6400/05, 1.6385/90 and 1.6350/55, resistances at 1.6475 and 1.6500/05.
Sources report decent sell orders lined up at 1.6500/10.
On the downside some small corporate demand is noted down at 1.6380/00, with sell stops said to be gathered just below there. More bids seen at 1.6350/60.
