Fresh GBP demand notable as North American desks get going 22 Jan

Seems like the pound remains the currency of choice to reflect USD and euro fragility.

GBPUSD now posting fresh daily highs of 1.3924 and taking out a few offers at 1.3920 in its stride. More lurking now around 1.3935 then larger into 1.3950 which have held on two occasions so far in the past few sessions.

EURGBP testing demand/support around 0.8800 yet again so both pairs delicately poised. EURUSD's early retreat from 1.2265 to 1.2215 and subsequent rally failure at 1.2265 helping to weigh on the euro as coalition talks and ECB meeting continue to cast a shadow. More bids/support into 0.8780-85 if the break is a more solid one than we've seen recently. Currently down to 1-month lows.

No fresh news behind the moves that I can see. More a test of the range extremes again.


EURGBP daily