1.4980/90 is solid support for the pound and prices are holding above that level despite a steep sell off this morning. Mixed amid the support are stop-loss sell orders. A break of yesterday’s low at 1.4990 will spook medium-term bulls especially as it comes off a fresh trend high for the recent rebound.
I’m not a candlestick chart guy, but I’m sure there is some evocative name for today’s candle-type if 1.4990 is lost like “Death star” or “engulfing plague” .
Cable trades at 1.5008.
