It's been a good hour for the pound after it's earlier sell-off 2 Aug 2016
The UK construction PMI data was better than expected although still a rotten number but traders have taken the opportunity to take some profit off the table.
EURGBP stalled into the 0.8500 offers that I highlighted and along with GBPJPY finding dip demand that's pushed cable up through the 1.3250 offers/res.
EURGBP has demand in the dips still and GBPUSD has strong sell interest around 1.3300 so I don't see any major moves for the moment. Good jobbing opportunities again though for the intra-day traders out there amongst you.
Currently 1.3233 after 1.3257 highs with EURGBP back to 0.8458 from a test of 0.8450 with GBPJPY leading the pound back down again for the moment.
Good two-way business to be had. What's not to like?
