Who would have expected the Great British Pound would be the safe-haven from an Irish-inspired market storm? We live in interesting times.
EUR/GBP has fallen to the 0.8485 area on the Irish woes even as some fret that the UK banks have significant exposures to Irish property developers. Cable is up at 1.6150, less than two cents from trend highs despite the euro being 6 cents below its highs given the weakness in the cross.
0.8464 is important support for EUR/GBP near-term while 0.8520 is now resistance.
1.6185 and 1.6215 are near-by resistance for cable; 1.6105/15 is now support.