Stops through 1.6115 were duly found and we’ve been as high as 1.6133 so far, presently at 1.6128.
Sterling bulls have been emboldened by tone of Kings’ inflation letter to the Chancellor. It certainly gave me the impression the Old Lady is moving closer to pulling the trigger and hiking rates. Oh dear, what’s to become of us.
Not getting reports of any big sell orders clustered nearby, but that’s not to say there aren’t any. Normally you’d expect some fairly decent sell interest around the 50 level.
