Lower highs for cable but dip demand notable as we wait on GDP data

A decent contest playing out on GBPUSD at the moment 24 Aug

Yesterday in my order board post I highlighted the good demand/bids/support on cable around 1.2780 and they've done a good job in preventing further falls so far.

Rallies have been less than convincing though with lower highs also notable helped by strong EURGBP demand and GBPJPY supply.

I remain core short cable and a rally seller on cable and dip buyer on EURGBP. Let's see what the GDP data revision brings.

Currently 1.2788 from 1.2778 lows. EURGBP 0.9232 just off session highs.

GBPUSD 60m