The reversal in EUR/GBP is the major influencing factor here and that pair looks to have scope still for a move towards .8550/75. If this happens (probably during London session rather than here in Asia) then cable will probably fall back towards the overnight lows at 1.5510. GBP/JPY is still behaving quite well technically and should be a buy-on-dips trade back towards 130.00.
Conclusion: If EUR/GBP maintains its bid tone then cable could fall heavily and trigger stops on the 1.54 handle.
