After trending upward most of the session some unfavorable economic data out of the UK has seen the pair come off over 100 pips. Look for cable to test its M/A at 1.6269 on the topside, if it breaks above there isn’t much resistance in sight (1.6394 is the target). If it doesn’t break above a repeated low of 1.6157 might be the next target and a break of that targets the 1.6000 area.
