The extent of yesterday's early gains was limited – unable to break through Friday’s peak and also unable to sustain the highs. This led to little net movement – followed in Asian trading this morning with selling interest emerging.
Signals are more negative for sterling than the mainland currencies – marked by bearish momentum indicators, a declining Keltner channel and the capping of the topside by the key 13 day moving average. So we look for the downside to be the focus with potential to 1.6026 and 1.6002.