Cable has firmed to the 1.5125/30 region, an area where stop-loss buy orders are rumored, with short-covering seen from a an Eastern European central bank. UK clearing banks are said to be buying as well.
EUR/GBP is attempting to stabilize with a Swiss bank buying the cross on dips at the moment. A large 0.8875 EUR/GBP put expires at 14:00 GMT this morning, held by the prop desk of a German bank.
