Cable is testing its downtrend resistance levels ahead of the U.K.’s labor market data! If you’ve read our latest FX Weekly Recap, you’ll know that the U.S. dollar found some support as more Fed officials communicated that they’re not in any hurry to cut their interest rates soon. Meanwhile, at least TWO Bank of England (BOE) members voted for a rate cut in May. Shortly after that, BOE Governor Andrew Bailey warned us that the markets may be underpricing the central bank’s easing plans.