Cable’s early rally has fizzled out and the pairing has come under renewed pressure, presently down at 1.5890.
European stocks have opened lower and could be vulnerable to further losses, the forex market certainly seems cautious of such an eventuality. Oil is also trading lower.
Back with cable, supports now 1.5880/85 and 1.5840/50.
EUR/USD meanwhile has also seen a fledling rally fizzle out and we’re back to where we started out the day in Europe, presently at 1.4535.
Looks like it could be a long morning ahead of US jobs data.
