Cable is looking a little soft in early European trade, presently at 1.6435. The growing tensions between the Bank of England and the Government will hardly be helping sterling’s cause.
Luckily for those of a bullish persuasion, generally heightened risk appetite is helping lend support, so far.
For today, supports at 1.6405/10 and 1.6370, resistances up at 1.6465/70 and 1.6500.
Cable could do with a good dose of buying interest out of the Middle East like it saw yesterday.