Cable is looking to be the weak link in the USD-pairs today as it fails to hold onto session gains above 1.6000. EUR/GBP buying is the main influence but I’m also hearing of some quite sizeable GBP/JPY sales in the last few hours which are weighing on the cable.
I’m expecting the cable to trade in a bullish consolidation inside 1.5850/1.6150 for the remainder of this week.