Cable has broken above morning highs of 1.5062 but more resistance lies over head on the hourly charts at the 1.5085 and the 1.5110 level. Buying from US real-money accounts has helped give cable its latest boost. We’d not be surprised to hear talk of central bank buying as well, given the usual reserve diversification.
Markets are painfully slow as the European session winds up and it looks like it could be a long afternoon…
