Closed in NY at $1.6119 after rate had been pressured to late session high of $1.6150. Rate traded the early part o0f Asia within a range of $1.6120/30 before getting pressed to a low of $1.6108, as EUR/GBP corrected its opening mark down from stg0.8185 to stg0.8176, before picking up fresh demand. Rate trades in early Europe around $1.6120. EUR/GBP retains an underlying heavy tone, the rate able to survive a late NY show back above stg0.8200, but traders noted good two way interest in the move. Rate was marked down from stg0.8185 to stg0.8175 into Asia, as the euro was generally seen under early pressure from weekend French election and Dutch political concerns. Rate settled back between stg0.8180/85 through the Asian afternoon and into Europe. Cable retains a bullish undertone, offers seen placed at $1.6150/60, a break to open a move toward $1.6180. Support noted into $1.6100 ahead of $1.6080/70. EUR/GBP bids remain into stg0.8165, stronger interest sitting close behind at stg0.8155/50, the stg0.8150 level holding barrier interest. Offers stg0.8200/05, stg0.8210 stops.
EasyForexNews Research Team