Please don’t ask me for 5 exact reasons, but the overall price action especially on the crosses suggests to me that we are set for considerably more GBP strength. My preferred medium-term play is to buy any deep dips on cable or in the meantime to play long GBP against the AUD, NZD and CAD.
The really big level to watch on the crosses will be .8150 in EUR/GBP. If we break below there then I expect GBP demand to pick up significantly across the board.