Cable sits at session lows in the wake of comments from BOE policymaker Blanchflower. Professor Blanchflower has been the most apocalyptic member of the MPC and therefor has been the most correct. He sees a very rough period ahead with significant further downside risks.
1.4175 has been the low thus far while EUR/GBP reached 0.8975. The Bundesbank was buying the cross this morning as it typically does at the end of each month for inter-governmental payments between the UK and EU.
1.4150 is technical support for the pound from last Friday. Expect a bounce if we are unable to challenge that level in the very near future.