Cable posts session highs as EURGBP pressure continues

Since an early move higher it's been one-way traffic down for EURGBP

Early highs of 0.8016 are now a distant memory as the support at 0.7975-80 that I highlighted previously have now given way and that has pushed GBPUSD through the decent supply at 1.4250 to post 1.4268.

USD sellers emerging again as North American desks open up for the week with EURUSD back to 1.1378, USDJPY 111.59 and USDCAD continuing its retreat back down from 1.3084 to post 1.3030.

Adding to the softer USD tones Goldmans are out with a note saying that US factory orders ( 14.00 GMT) are likely to have declined in Feb citing the weaker Feb durable goods data.

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