Cable is bouncing back from a test of the ginormous support at the 1.6250/60 level (lows of 1.6257 recorded). We’ve recovered to the 1.6295 level amid talk of Asian buying. Any chance there is a 1.6250 exotic? I’m gonna go with yes, until Simon tells me I’m daft.
The Cable bounce is helping drag EUR/USD up in its wake. Offers are seen on the approach of 1.4780 near-term.