GBP/USD - 1.5388.. Cable took a harder bashing than euro by sterling bears n fell through intra-day low of 1.5409 (AUS) as early birds in Europe & M.E. accounts sold the pound ahead of European opening. Offers are abundant, previously lowered fm 1.5590/75 to 1.5560/65, now probably 1.5330/35. Beware of intra-day short-squeeze b4 downtrend resumes as y'day's decline is wee bit over-extended.