Ahead of a busy week for UK data, cable remains relatively positive. It dropped back sharply from Friday’s peak near $1.35, so this is now the area to watch on the upside.
A break above here would head towards $1.3685 and the top end of the gap down at the end of June.
Weakness may see $1.3150 and then $1.31, where downside momentum stalled. A daily close below would head towards $1.2850.