It started out as rebound-Tuesday for the US dollar but traders sized up the size of the rebound and were unimpressed. They`ve responded by slowing unloading dollars and stops are periodically causing breakouts.
Up next could be cable, which has edged through the earlier highs.
The key level on the GBPUSD chart is 1.5394 but offers extend to 1.5410 with buy stops mixed in. More offers at 1.5420 and 1.5440/50.
