The pair has been under intense pressure over the last couple of days with a break below its daily 20 moving average.
A break below 1,6255 would expose August low near 1,61. Inversely, renewed pressure on the US dollar would allow a bullish resumption on the Cable.
It is worth noting that the pair is trading flat over the middle term which makes difficult to determine a relevant bias. As for all the majors, we need to see a sharp acceleration of the market in either direction to clarify the long term outlook.
Provided by atf-forex-trading.com