GBP once again is looking like a alternative to the two-speed euro and the once-mighty Swiss franc, a sign of how desperate the market is for a place to park cash.
The flows have pushed EUR/GBP out of a triangular consolidation and turned a bullish chart bearish this afternoon. Sellers are seen now on rebounds to 0.8765/70 area while targeting 0.8725/30 near-term. The cross changes hands now at 0.8745. Cable is well-bid, now at 1.6455.
