FXstreet.com (Córdoba) - Cable is moving sideways so far today. GBP/USD rose earlier to 1.6532 posting a fresh intra-day high but the pair then weakened and fell below 1.6500 to 1.6470. In the last hour the pair has remain steady around 1.6480 which is at the same level it had at the beginning of the day. On the downside, support lies at 1.6430 and below at 1.6400. On the upside, resistance is located at 1.6530 and above at 1.6585.

Against the Euro, Cable is falling further. EUR/GBP rose to 0.8930 posting a fresh five-month high. The pair is rising for the third consecutive day accumulating an increase of almost two hundred pips.

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