EUR/GBP continues to be unwound as the pound’s weakness is corrected across the board despite record deficits this morning. Bids are seen in the 0.9085/85 region on order books while stop-loss sell orders are clustered at 0.8960/65, traders report. 0.9150 is resistance near-term.
Cable is well-supported, now after getting bashed earlier by Taiwanese sales from the 1.6430 area. Stops were triggered above that level on the rebound, squeezing out intraday shorts. 1.6445 is now resistance, the resistance line we highlighted yesterday. More is at 1.6465. . 1.6500 barriers are expected. We trade now 1.6433.
