EUR/GBP resistance at .9090 held for the second straight day and GBP shorts are likely feeling a little unsure of themselves especially with the budget report not far away. The cable market closed in NY at 1.6275, fell over 100 pips so I certainly do not disregard the possibility that it can also rally 100 pips above the NY close ie to 1.6375. As I said earlier, it’s not for the faint hearted.