Yesterday’s price action confirmed to me that we are in a short-term holding pattern between 1.6470/1.6680 and as we are near the middle of this range now, I don’t have a strong bias.
However, with important EUR/GBP support not far away at .8250 and with both GBP/CAD and GBP/JPY looking short-term ‘toppy’ to my eye, I think we are more likely to see the downside tested in cable first.