Cable having opened little easier, has slipped further in early European trade, presently at 1.5872. Once again yesterday 1.6000 proved a bridge too far, the pairing’s rally topping out at 1.5990. Just as well I told you in my wrap sell orders up around 1.6000. You’ll have all been well-prepared.
UK Gfk consumer confidence out overnight and it made sobre reading, down to -29 in January from -21 in December, a 22 month low.
I told you recently everyone I know is cutting back on their food bills and how much they use their car. Seems things deteriorating pretty fast to me.
UPDATE: Talk EUR/GBP buy interest lined up for the fix. Not exactly sure which fix. The cross is up slightly this morning at .8638 from around .8628 when I arrived
UPDATE: Being told it’s 08:00 GMT fix.
