Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
However, cable must break 1.7715/20 support (today's low) to trigger a sizeable decline, with a further break of 1.7665 required to signal a top is in place at 1.7800. Short term resistance at 1.7785/90 (today's European high) must hold to keep the short term bearish bias intact."