• Cable softer during NY trade, but another 1.32 false break offers dip-buyers hope

• The pair continues to draw support from EUR/GBP cross selling

• However, rebound attempts remain shallow, keeping spot in consolidation

• Another lift in US yields (10y nearing 5.35%) underpins USD

• On the technical front, the 200-hour MA cluster at 1.3237-60 is also a cap on cable

• Additional hurdles sit at 1.3274 and 1.3300. Support comes in at 1.3140-60
GBPUSD vs 200-hour MA

Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))