Cable at 1.6770 is exactly where it was when I parked my bum at my desk this morning. Inbetween then and now cable experienced a slight wobble which took it down to 1.6747 before steadying.
RBS released their first half numbers, which were a disappointment. The bank made a loss of £1.04 bln after a loss of £827 mln a year earlier. The result was worse than expected, the median forecast having called for £1.1 bln net income. The bank set aside £7.52 bln to cover loans and impairments.
Technical supports for cable today at 1.6745/50 and 1.6700/10, resistance up at 1.6805/15. Sources note sell orders lined up t 1.6850.
