The pound remains ascendant as the reflationary environment takes hold amid signs of a rebounding global economy. EUR/GBP continues to give ground, down to 0.8835 at present after breaking support at 0.8880/85 earlier today. Very solid support lies just below the market in the 0.8780/90 region. The former support at 0.8880/85 should provide resistance on rebounds near-term.
The cross selling in quiet afternoon trade is helping keep EUR/USD capped near-term. The most recent rally sputtered in the 1.3380 area. 1.3325/30 remains important support intraday. Stops lie below.
