After last night’s PSNB record number we saw Cable ‘suffer’ a blow down to the 1.5430s and it is struggling to hols well in any meaningful way at the moment; EUR/GBP briefly got back above 85.00 but dipped back with further Euro weakness.

Tonight we have UK GDP, Current Account and MEPC Minutes; any negativity accompanied by further Euro weakness should see the Cable tested and I feel further downside will test 1.5300 and we will see the 85.00+ again quite easily.