As is usually the case, weak hands place their stop-loss orders just outside the existing trading ranges, practically begging the market to take them out. That was the case above recent highs at 1.3070/80 as stops were tripped off, taking the euro to 1.3092 before easing.
Cable pulled up close to important resistance at 1.4980, topping out at 1.4977. Writers on this page have been calling for 1.5000 in recent days; we’ll call it close enough and suggets booking at least half profits. Options-related offers are expected toward 1.5000, dealers report.