With most centres closed for Good Friday market volumes remained light with currency pairs tied to narrow range trade. Cable closed at $1.6790, euro-sterling at stg0.8226. Cable recovered off pullback lows of $1.6772 after earlier making a brief show above $1.6800. Euro-sterling reversed off session highs of stg0.8238 in tandem with euro-dollar to sit heavy near the intraday low. Cable gapped to $1.6803 in early Asia, however with lack of follow through light profit take sales weighed. The dip met willing buyers ahead of $1.6780, before tracking euro-dollar’s recovery to flirt with $1.6800. Light offers are reported at $1.6820, stronger on approach to $1.6840/50 ($1.6842 – 17Apr high). The cross opened heavy in early Asia and with the euro under broad selling pressure slipped to stg0.8221. A minor recovery to stg0.8227 met fresh supply as the rate sat heavy throughout a quiet afternoon session. Bounces remain shallow with support seen on the downside at stg0.8214 (76.4% of stg0.8157-0.8400), stronger demand behind on approach to stg0.8200. Rate last stg0.8223.
