Rang-bound we may be, and painfully slow at that, but there’s value to be had out there still

The early rally in GBPUSD stopped bang on the strong 1.6835-40 resistance with offers to match and more above at 1.6850. We’re now back to where we were when I sat down over 6 hours ago with the bids at 1.6800 holding firm again.

EURGBP softness is having its usual impact in holding up the falls in cable and if we can break lower through 0.8100 we can expect 1.6800 to provide even more demand. Unless of course, that is, EURUSD can find a short sharp slap slower from somewhere.

Currently 1.6807 and 0.8104

Adam’s off again today so Ryan’s covering, hence his absence here this morning. I’ll get the wrap done and be back soon with that.