Cable sits at 1.5955 presently, up from a North American close Tuesday around 1.5920. Cable has done a good job of coming back from the dead having sunk as low as 1.5710 yesterday, helped in no small part by lumpy cross action.
BIS and large German bank said to have been decent sellers of EUR/GBP yesterday, while hedge funds were noted covering GBP/JPY shorts.
Event risk looms large today however in the form of the latest jobs report;
08:30 GMT: Jobless claims for September expected +24.5k, claimant count rate 5.1% and ILO unemployment (3m) August 8.0% from previous 7.9%.
Technical support 1.5800/05, resistances 1.5965 and 1.5995/00.