As ever, we can correlate both pairs in tight interaction
Early euro pressure had EURGBP breaking down through good demand around 0.7080 which put a bid into cable above 1.5700
But we've now had a double whammy of poor UK mftg data followed by some euro-positive Greek deal news and lo and behold we've gone from holding the 0.7060 bids to taking out the offers at 0.7085 and 0.7100 only to run into stronger offers/res into 0.7130
Cable has remained on the back foot understandably to test support/bids around 1.5650
As I've said many times before you can't trade one without keeping a close eye on the other
Currently 0.7115 and 1.5666 from 0.7129 and 1.5646
