Cable is holding up pretty well in early European trade, presently at 1.4930. Sterling continues to be bolstered by improved risk sentiment. Technical resistances now lie at 1.4950 and 1.4985/90, supports at 1.4900/05, 1.4880/85 and 1.4850.
There is talk in the market of a barrier option at 1.5000 and some expect protection of said level. Also talk “large” buy-stops gathering just above the psychological 1.5000, which comes as no great surprise.
