Cable is extending losses, triggering stops below the 1.6390 amid talk of sales from sovereign and hedge fund accounts.
Looks like traders are content to buy in the 1.60/61 area and kick’em out toward 1.65/1.66… Rinse/repeat.
1.6360 is next support of note intraday. It is the 38.2% retracement of the recent 1.6060/1.6550 rally. More support is at 1.6335.
