Closed in NY at $1.6125 after recovering to $1.6135 in this session and holding above $1.6100 ($1.6109 pullback low) into the close. Trade in a generally subdued Asian session was contained within a tight $1.6110/30 range, the rate currently trading around $1.6122 at writing and seen struggling to edge higher in tandem with EUR/USD and thus allowing EUR/GBP to break out of its overnight range of stg0.8155/61 to stg0.81675, as this rate extends its recovery off Monday’s lows at stg0.8149. UK borrowing data due out at 0830GMT the data interest this morning. Offers remain in place at $1.6130/35 ahead of $1.6150/60, a break to open a move on toward $1.6180. Support remains at $1.6110/00 ahead of stronger interest into $1.6075 ($1.6076 Monday low). For the cross, support remains around stg0.8150, a break and clear below to open a deeper move toward stg0.8130 (E1.2300) ahead of stg0.8120. Resistance stg0.8180/85 ahead of stg0.8200/05.
EasyForexNews Research Team