Cable is barely moved at midday but EUR/GBP is to the moon. Stops above the 0.8960 level were triggered and there was little in the way of selling until the cross reached nearly 0.9000. So far, we’ve topped out at 0.8998. GBP/USD is steady around 1.5960.
Beware of a trendline hanging over the market at around 0.9030. The downtrend has been in place since mid-October.
