Cable has given up just over a full cent from it’s earlier highs, underminned by a turnaround in stocks and now the release of disappointing Chicago PMI data. We’d come along way in a short period of time, so a bout of profit taking shouldn’t be overly surprising.
Just remembered, talk of demand lined up at the fix should help limit losses. It’s been a long week.
We’re presently down at 1.6075. Techical support 1.6045/50.
