Steady gains for pound pairs as a new week gets underway 15 May
Not seeing any news/prime movers but GBPUSD forming a new base line at 1.2880 to post session highs of 1.2910 with EURGBP failing into 0.8500 to fall to 0.8465.
I noted 1.2850 as a good target point for last week's retreat and that essentially has held the move as range trading prevails. Expect offers/res now between 1.2920-30 with more behind that at 1.2950. Demand/support at 1.2880-85 then 1.2850 again.
EURGBP should trade 0.8450-0.8500.
Mirror, mirror on the wall. Again.
