GBP/USD broke support at the 1.4625/35 region, dragged lower buy the sudden bout of dollar strength that overwhelmed the market ahead of the long Easter weekend. prices fell all the way back to the 1.4580/85 level where cable found support on Wednesday. Stops are perched just below that level and survived the first onslaught.
EUR weakness is being reflected in the pullback in EUR/GBP (0.9010) but GBP/JPY has not performed as well as we’d hoped. Despite the big bank-led rally in share prices GBP/JPY was rebuffed for a third time at 148.00 on the short-term charts. 146.25 is solid support in that pair. It was tested a short while ago and held.