Cable is suffering a set back this morning after days of strength. There remains a “buy the dips” attitude toward the pound though, dealers relay.In the short-term, we are ranging with the equity markets but the market remains quite constructive toward the pound from a macro perspective as long-term players continue to cover shorts and some venture long, seeing the worst as over for the UK.
Strong bids are rumored toward the 1.4600 level. Dips have been contained in the 1.4645 area so far as the pound gave ground along with the US equity market. Resistance in EUR/GBP lies here at 0.9035 with more toward 0.9056.
