Out of the blue, we’ve sprinted fresh highs for the move as aq wave of buying swept the market at the 12:15 GMT fixing. Some stops above yesterday’s 1.2325 stops were triggered but follow-through was minimal amid talk of central bank offers in the 1.2335 area.
1.2367 is further resistance if 1.2335 is overcome. That’s the 50% retracement of the drop from the spike high following the EU summit in late June.
