Cable is seeing relatively steady trade compared to the volatility of yesterday, presently at 1.4560. This morning’s session seemed to be mostly about a couple of sovereign names pushing the pairing about.
There obviously remain serious concerns about the governments’ huge borrowing requirements. They’re always going to be there lurking in the background.
I heard earlier there is decent sell interest in EUR/GBP lying up in the .9000/20 area, and this may lend cable a modicum of underpinning. The S&P is up some 10 points and this will be helping support the pairing too.
Technical supports down at 1.4520 and 1.4500/05, resistance up at 1.4590/95. Buy-stops said to be gathered just above 1.4600.
