If it wasn't for the warning light coming on, i wouldn't be at all concerned - the car runs fine, temp ok, i'm very tempted to simply disconnect the sensor and ignore the problem, ive had the same pressure in the coolant for a couple of months now anyway.
Just thought of another possibility, what if the connectors/wiring is chafing on something, and so intermittently it is touching and untouching, this is the only explanation i can think of other than RichardW's bubble vibration idea, and i can definitely turn the light off for a few seconds whilst braking, or when i declutch and the physical shaking of the engine changes, which makes me think maybe it is just a dodgy bit of wiring.
I'll check it out ASAP anyway, using Ross_D's description of where the sensor is, so hopefully an update tomorrow
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