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Cable unchanged overnight, EUR/GBP slightly firmer

By   || March 12, 2010 at 06:25 GMT
|| 4 comments || Add comment

Cable sits at 1.5065, effectively unchanged from where North America closed out Thursday, while EUR/GBP is marginally firmer at .9093 from around .9078.

Article by AEP in The Telegraph entitled “Europe’s banks brace for UK debt crisis” will have been duly noted, but to be honest it offers nothing new at all.

No major data releases today.

Sell orders tipped at 1.5090/00, stops through 1.5105.

Interesting to note a couple of UK clearers have been sellers of the EUR/GBP cross up around .9110/20 in past two sessions. Guess not everyone is so down on poor old sterling.

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4 Responses to “Cable unchanged overnight, EUR/GBP slightly firmer”

  1. Francesco on March 12th, 2010 07:12 GMT

    Hi Gerry,

    I have a sell on the cross at 0,9080.

    Looking for a point to increase my position, presently I have a order at 0.9112, do you see some flow on EURGBP today?

  2. Gerry Davies on March 12th, 2010 07:28 GMT

    Hi Francesco, not too much reaction to bearish article in The Telegraph, at least not yet, which is kinda refreshing as it said nothing new. I’ll be interested to see whether we get ongoing clearer selling on any moves toward .9110/20. start getting that kinda flow stuff from 08;00 GMT onwards. Ill let you know if/when i hear anything. its friday and cable will be more illiquid than ever so any orders going through could provide disproportionate price move

  3. Francesco on March 12th, 2010 07:32 GMT

    Thanks Gerry,

    I will move my order up to 0,9120 just in case, let me know if you hear something, cheers!

  4. Waheed on March 12th, 2010 10:14 GMT

    Hi
    I took a short on EURGBP @ 90751 hoping for a target @ 8990- “If EURGBP breaks the Support Trendline we may see EURGBP down to SUPPORT 1 (0.8990). And if it breaks SUPPORT 1 it can go further down to SUPPORT 2 (0.8840). “

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