GBP is boosted from all angles this morning as French sales of EUR/GBP continue, reportedly for Orange’s purchase of UK assets from T-Mobile. Every time we get reports of Mid-East buying in cable, it usually reverts back to Sainsbury’s being taken over, though I thought it was Qataris rather than Saudis doing that deal…
No matter, Cable is bid to the boots with little to stop it technically until 1.6620.
EUR/USD offers are noted either side of 1.4815 resistance, at the 10/20 level. EUR/USD trades now at 1.4798. cable at 1.6585.
