Ya gotta love cable.
It slides as low as 1.4645 as London settles in only to reverse and retrace nearly all of the slide from 1.4857 highs posted yesterday.
Halfway decent UK retail sales helped fuel the pop, though even the ONS admits it can’t count retail sales all that accurately. “World Cup Fever” is blamed for the sales jump, which obviously took place before the US beat England 1-1. I know for a fact that Gerry has been wearing nothing but a red and white scarf since Saturday.
The plucky pound is consolidating around 1.4810, eying stops in the 1.4865 area. 1.4917 is further resistance if it blows up overnight in Asia.
