Market getting inchy: Where are those EUR/GBP sellers?

After all the talk of huge EUR/GBP sales today the cross has recouped all of its earlier losses and pushing to new highs. The market had been a seller of EUR/GBP this morning in anticipation of a large EU payment to the UK, but it looks as though the sales were absorbed more easily than expected or they nevr materialized. Either way, the market is scrambling a bit.We trade now at 0.9145.

Cable has fallen back to 1.5960 and EUR/USD is finding some bids on dips, partially related to the cross.

Central bank buyers are expected in EUR/USD on weakness between present levels (1.4593) and 1.4460 in dribs and drabs with the heavier volumes expected below the 1.4500 level. A chunk are noted at 1.4550, traders say.

1.4515 is the 50% retracement of the 1.4189/1.4840 rally.