Cable hits 1.2314 after falling further from 1.2435 (Wednesday's 5-week top)

Drop to 1.2314 spurred by risk aversion (USD is safe-haven) nL1N34409M

1.2300 (Tuesday high) is support point. 1.2295 = 23.6% Fibo of 1.1842-1.2435

GBP/USD vaulted 1.2300 on hot UK inflation in services prices data Wednesday

Wednesday's high was six pips shy of 61.8% Fibo of 1.3749-1.0327

Putin ally Medvedev warns of nuclear war if Russia defeated in Ukraine