Seeing another knock lower for GBPUSD and the pound in general as European traders drift into work. Currently 1.6190 1.6180 from 1.6210
Two UK clearers were standout sellers into the Asian opening taking the rate down to 1.6165 from 1.6200, but EURGBP meeting resistance into 0.8000 provided some respite. Cable edged back toward 1.6200 but was met once again by another round of UK bank sales that saw the rate retest the early lows as the cross broke above 0.8000, moving on to 0.8017.A US bank was a noted cable buyer in that dip and EURGBP eased back around 0.7985
Another round of GBP selling can not be ruled out. Approach with caution down here/toward the lows though but rallies will undoubtedly find good offers to fill the gap
I’ll be getting the latest orderboards to you asap
Cable looking rather detached
