The USD is losing friends across the board and with pairs like EUR/GBP starting to break lower again, buying dips in cable looks like a very obvious strategy. The consolidation period is now over in my view and I’d expect a new bullish range between 1.66/1.70.

On the day, there is decent resistance between 1.6770/1.6820 which will attract profit takers and any dips onto the 1.66 handle will surely see stale shorts on the bid.