Open trading account 
Cable lost more than two cents yesterday while the daily range was worth two and a half cents, the largest in four months. Part of the orderflow could well be attributed to GBP/JPY selling and corrections in GBP/AUD, GBP/NZD and GBP/CAD.
The decline stalled near 100 DMA (~1.5470), just ahead of the trendline drawn off of May and June lows. Should the pair continue lower, 200 DMA (~1.5370) is the next big level to watch. On the upside, 1.55 is the initial resistance before 1.5540 - 1.5560 band (Daily Pivot Point, 50's, Monthly Pivot Point, Previous Week Low).
The decline stalled near 100 DMA (~1.5470), just ahead of the trendline drawn off of May and June lows. Should the pair continue lower, 200 DMA (~1.5370) is the next big level to watch. On the upside, 1.55 is the initial resistance before 1.5540 - 1.5560 band (Daily Pivot Point, 50's, Monthly Pivot Point, Previous Week Low).
