Last week cable ate through 300 pips of sell orders above the 1.5640 buy stops on the book and took it to 1.5940. After this flush book is slanted heavily short. Short term GBP interest rates make cable very a clear buy for EU banks right now.
I'm a confident buyer here and down to 1.5600, if we go there. My target for cable 1.6140/60 this week.