Opened in Asia at $1,5416 and had a extremely quiet session ranging $1.5401-20 with the cross little better in a stg0.8395 to stg0.8411 range. The China/HSBC manufacturing data had little effect on pricing as markets started to wind down into the year end and order books emptied. Support for cable is seen down toward yesterday’s 12 week lows of $1.5362 with resistance towards $1.5475 and $1.5500. GBP/JPY slipped from Y119.78 in early trade to Y119.43 with GBP/CHF posting a small rise from chf1.4485 to chf1.451. There is nothing in the way of data today to influence sterling, but any significant commercial orders are likely to have an exaggerated impact on trading as dealers close up their books for the year.
EasyForexNews Research Team