The pair started the new year at $1.5579 this morning but has seen little impetus for any major moves so far today. Early US dollar gains put sterling under mild selling pressure and the rate slipped to an early low of $1.5544. A mild rebound has been seen with the pair having climbed back through its opening levels again, to a high of $1.5588. Gains have however failed to be sustained and cable then slips back again to last trade at $1.5554 ahead of the European open later. Looking ahead, cable sellers are noted from $1.5600 while support is seen coming in at $1.5539/30(50%-61.8% of $$1.5501-76) while stronger demand interest is then seen further down at $1.5520/00.
