Cable gives us a reminder that if you turn your back it will happily kick you up the rear end.

A few hours ago it was looking like 1.4800 might be the next figure tested. Scroll forward and instead it's 1.4600. Such is the life of cable.

GBPUSD 15m chart

The area around early Monday trading is where support sits and already it looks like its been strong enough to weather this storm. If the US decides to take the dollar higher then we may well give 1.46 a stern test.

What's also worth noting is that the pound is likely to be having an extra tail wind from the drop in oil prices today, so keep half an eye on that too.