Cable bounce fades
All the gains since the start of London trading have evaporated and GBP/USD is now up just 60 pips on the day to 1.3284. The high was 1.3419.
The level to watch is yesterday's US low of 1.3260. A break below would confirm that the minor uptrend since late yesterday is broken.
A break below 1.3260 will put a bull's-eye on the post-Brexit low of 1.3121, and probably lower.
