Cable has moved back over 1.4900, presently at 1.4905. The pairing looks well-underpinned at the present time and further gains could well be in the offing.
As mentioned before, sterling is benefitting from the recent improvement in banking/financial stocks and from hopes the UK house price slump might just be coming to an end.
Technical resistances now lie up at 1.4930/35, 1.4850 and then 1.4980/85. Some sell orders said to lie up at 1.4945/50, buy stops just above 1.4985.
If we can get above 1.5000 we’re off to the races. Some feel a move above 1.5000 opens up possibility of gains up to 1.5500 area.