Cable touched below 1.50 on Monday but bounced more than 130 pips from there before it turned back down. Weak Manufacturing and Construction PMI releases didn't help the pair which has been sold on most crosses.

Today, 1.50 was properly busted and the low of the day was put in few pips below 1.49. The bounce ran out of steam just above 1.4950. Broken 1.50 level shall now act as a resistance, should the pair get there anytime soon. Some support is seen at April 21th low near 1.4850.

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