1.5100 has just broken after cable pressure that had already helped GBP/JPY to ease some 60 pips.
A test of 1.5050/60, important support looks very possible
4 Responses to “Cable and Sterling Crosses Under Pressure”
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AUTOREFRESH 
Morning David,
Whats your view on the EUR/USD today with respect to ranges? Seems to be risk off for the EUR so far but no big falls.
Hi Ourtrader, the outside of it I expect to be 1.2675 with lots of interest in the upper echelons probably from CBs and the usual suspects we have seen in the last week; I think the low end will be 1.2430….I can’t see commitment either way at the moment – it will still be a stockmarket-watching day…..a break of 1.2700 will be a game changer
AS long we keep closing above 1.2486 on daily.. 1.27 then 1.33 are next…
Thanks David,
I have small short EUR/USD position with tight stops at just above 1.2700 so fits with my view too.
Interesting comment with respect to stocks – not sure if we have a dead cat bounce at the moment, as Jamie’s comment the other day but would not be surprised to see another rally with the plunge protection team in action later today.