There seems to be no let up in the EUR/GBP sell-off so far today, the cross down at .8960 from an early .8980.
Technical supports now come at .8951 and .8934 (let’s call it .8950 and .8935). Obviously .9000 is psychological resistance on the topside.
Talk of some buy orders lined up down at .8950. Will be interesting to see whether they can contain the slide.
Meanwhile cable has tacked on a quick half a cent or so, presently up at 1.6440.
Resistances now at 1.6445/50 and 1.6466.
I thought it was interesting to hear reports yesterday afternoon of a US investment bank buying good amounts of cable given Goldman’s stance on sterling presently.
I have a feeling (unconfirmed) that there could well be some lumpy stops gathering just above 1.6466.
