It's been under the cosh all morning and now sinking further 20 Sept Cable has finally cleared the recent support at 1.2995-1.300 and triggered stops to the next level I mentioned around the 17 Aug iows of 1.2979. Strong demand/bids between 1.2940-50 the next target on the down side with 1.3000 expected to cap rallies for the moment. EURGBP still a prime mover as is GBPJPY and I'd guess that a few funds might be using short GBPJPY as a disappointing BOJ play. (full story)