Closed in NY at $1.5460, just off session highs of $1.5470. Rate initially marked lows into Asian trading at $1.5450 before picking up fresh demand, the recovery through the overnight session basically tracking EUR/USD, as the cross held within a range of stg0.8252/67. GBP edged to an overnight high of $1.5485, extending the move to $1.5486 into early Europe and currently holding firm at writing. Rate trades around $1.5476. Cable offers remain in place between $1.5490/00, a break to open a move toward $1.5525. Stops seen placed on a break of
$1.5530, which if triggered to open a move on toward $1.5550/60 ahead of $1.5580/90. Support remains at $1.5450, stronger between $1.5425/20. In the cross, offers seen at stg0.8270, with stronger interest noted from Monday’s high at stg0.8277 through to the 2011 low at stg0.8285. Support stg0.8255/50 ahead of stg0.8240 and stg0.8225/20. Calendar extremely light for the UK today with moves to be dictated by activity in EUR/USD.
EasyForexNews Research Team