Cable has fallen after the announcement that BP has suspended its dividend for the rest of the year and will pay $3 bln this quarter and 2 bln next quarter and $1.25 bln each subsequent quartter until the escrow fund reaches $20 bln.
technical support for the pound comes in at 1.4750 near-term; stops are noted below that level.
EUR/GBP resistance comes in at 0.8323 and again at 0.8338. The cross trades now at 0.8321.
