Closed in NY at $1.5669 after recovering off a late pullback low of $1.5648. Rate tracked EUR/USD moves, pushing up to an early session high of $1.5674 before reversing to retest that NY low, while EUR/GBP was contained by stg0.80005-0.8011. Cable retains a negative feel into early Europe, extending lows to $1.5647 and holding heavy, with dollar demand seen as the driver. Support seen around Thursday’s low at $1.5639 (Europe) with a break below to open a deeper move toward $1.5610/00 ($1.5603 Mar12 low). Further demand seen at $1.5580 ahead of $1.5550. Resistance noted at the Asian high of $1.5674 ahead of $1.5687 (50% $1.5727-1.5647) and $1.5700/10. For the cross, bids remain in place from stg0.8000 down to stg0.7995, a break of stg0.7990 to expose next support at stg0.7985/80 (stg0.7986 76.4% stg0.79505-0.8102). Little on the UK calendar, markets remaining on Greece headline watch. US holiday Monday, with a shortened session ahead, expected to lead to position adjustments ahead.
EasyForexNews Research Team