1.6020/30 now looking to offer some s/term resistance this morning as cable lags the EUR/USD rally, but a break there will open the way again into the cloud base at 1.6043, and then towards the 55 and 100 day MA’s at 1.6062/74 ahead of yesterday’s 1.6080 high.
There’s also an option expiry today at 1.6075 which could attract should a rally be forthcoming. On the downside bids remain at 1.5970/80 with likely sell stops just below.
EUR/GBP’s up at fresh day’s highs of 0.8328, and a break of 0.8330 targets the April 3 2012 highs of 0.8359. Bids remain down at 0.8300/10
Cable’s presently trading around 1.6020