Fresh GBP demand noted as NA desks open for business but sellers lurking still

Early North American trading session is seeing renewed GBP buying 28 Sept

It's a been a roller coaster ride for the pound this morning having visited both ends of the 1.2980-1.3030 range and we're seeing a move to the topside again.

Currently 1.3021 there's strong sell interest around 1.3030 which I reported earlier and has capped earlier attempts. Expect a good battle there again should we advance further and note the stop-loss buyers if that level is breached which should then target the tranche of offers at 1.3050.

EURGBP has also had a lively morning with a rally to 0.8640 from session lows of 0.8590 now backing off to 0.8608 on the renewed GBP demand and euro supply.

Throw some demand-biased option expiry interest into the mix at 1.3000 and we're nicely set up as we head into US durable goods data at 12.30 GMT ahead of Yellen at 14.00 GMT.