Everytime cable looks like it’s ready to make some substantial gains, pop goes the bubble. Cable at 1.3735 isn’t that far from day’s low of 1.3703. While global stockmarkets remain vulnerable it’s difficult to see cable taking off, as risk aversion flows undermine the UK unit. On top of that you have the woeful economic backdrop and a govermnent which is more than happy for the currency to weaken. Still hearing much talk of a test of the 1.3500 in the short-term.