Pressured to below $1.5960 as market remains nervous about PM Cameron’s address in the Netherlands Friday, the PM expected to lay out a new roadmap for the UL’s relationship with the eurozone, speculation being that the PM could schedule a national referendum on the relationship between the UK and its European peers. That stance seen weighing on sterling on the day despite the early push up to $1.6040 area that may have left some intra-day longs. Cable last $1.5975 as nearby support around $1.5960 tentatively holds. Bids $1.5950, stops below.
EasyForexNews Research Team