Posted session highs in NY yesterday of $1.5681 which saw the pair extend gains for the 2nd consecutive day. The rate ran into strong headwinds and eased to $1.5656 around the close. GBP picked up again and traded a buoyant tone into Asia, lifting to $1.5674, the rate was unable to sustain momentum, falling back to $1.5650 and holding into the European open. Rate pared losses and recovered to $1.5675, before easing to $1.5662. Volumes continue light and trade expected in tight ranges with any market moves order driven. Demand seen into $1.5650, ahead of $1.5610. On the topside offers seen into $1.5680, through to $1.5700. Stronger behind through $1.5750-70.
EasyForexNews Research Team