Cable rallied in the morning and briefly touched above previous week high (1.5383) before it reversed to fall sharply ahead of inflation report. The report came out weak and suspicious price action before that suggests that it might have been leaked. Dovish comments from two BOE officials didn't help the pair either.

It then fell all the way to 1.52, nearly 200 pips from the high of the day. It broke back below 200 DMA (1.5320) which shall now act as a resistance. We'll see what UK labour market report will bring tomorrow.

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