Closed in NY at $1.6150 after the rate had seen highs of $1.6172 post FOMC, with pullbacks supported at $1.6134 ahead of the close. Rate came under pressure into early Asia, pivoted $1.6140 before getting pressed to extended corrective pullback lows of $1.6125 ($1.6128 76.4% $1.6113-1.6172) before meeting decent support, with rate able to recover to $1.6146 ahead of the European open. Offers seen in place into $1.6150, more at $1.6160 with a break here to expose Wednesday’s high at $1.6172. Further offers noted to $1.6180, a break here exposes $1.6200. Support noted at $1.6125 ahead of $1.6115/00 with stops below. Euro-sterling extended its recovery to stg0.8100 in NY , the rate consolidating this move between stg0.8097-0.8109 in Asia, with stronger resistance noted between stg0.8110/20. Cable will take direction from euro-dollar moves, with some influence again to be seen from sterling-yen, as this rate continues its recent buoyant tone. Analyst comment on FOMC through the day, as well as Eurozone leaders meeting on Greece of interest. CBI trends at 1100GMT providing domestic interest.
EasyForexNews Research Team