Cable has extended sell off despite Middle Eastern sovereign buying up around 1.5425/35. Stops have been tripped through 1.5410 accelerating decline and we’re presently down at 1.5395.
The move comes as EUR/GBP rallies. Yesterday defence of .8600 barrier option interest provided robust support and we’re up at .8680 from early .8655.
There is now talk of sell orders lined up around .8700 in the cross.
