Cable has ticked higher in early European trade, back over 1.7000, presently at 1.7005. The Times MPC is urging the Bank of England to suspend it’s quantitative easing programme for the time being, and this will be lending cable some support.
Technical resistances now come at 1.7025/30 and then 1.7045/50. Talk of barrier option interest up at 1.7050 and offers said to lie just ahead of said level. Good chance decent stops lined up just above there.
