GBP/USD’s been left floundering on this risk rally following the German IFO data, despite some earlier reports of Middle eastern buying, as EUR/GBP confirms last night’s break higher. Offers sit up at 1.5730/35 and the high on the day so far has been 1.5723
EUR/GBP’s just broken up through the 100 day MA at 0.8476 to highs of 0.8489. There’s rumblings of buy stops up through 0.8495 (Dec 8 lows) and offers at 0.8550/55. Down side there are bids 0.8450/55 and 0.8400/05
Cable’s sitting at 1.5715 with EUR/GBP around 0.8474
