The EUR/USD and Cable could be building a little bit of a base at 1.3130 and 1.4700 respectively and if we can hold above those levels for the next hour or so we could see some buying interest emerge in Asia with tight stops below that could become a target for London when it comes in.
Overall, i am expecting the USD to weaken during Asia with London likely to come in and target weak stops before taking the EURO and Cable back towards 1.3300 and 1.4900. Cable still has a hurdle to overcome at 1.4790/00 first though and we could see EUR/GBP benefit positively from this and retest that 0.9000 region.
