The pound is virtually unchanged on the day at 1.6625 after a failed rally to 1.6664. A slightly soft construction PMI was the main economic data point of the day.
Cable has been conslidating this week after a two-week roundtrip down to 1.6460. The ability to hold lows is a positive sign but it could also be signalling reluctance to take sides ahead of the main data points this week.
cable 10 minute
There is strong demand on the orderboard at 1.6600/1.5995 with more around 1.6580. Next is 1.6555/45.
Offers start at the high of the day with better sellers at 1.6675/85. More at 1.6715/20.
