It's been a solid 24 hours for the pound after yesterday's GBPJPY- led rally
Add to that the stronger headline and core CPI data and you have a market looking to scramble a few shorts back in.
GBPUSD has now tested the strong sell interest at 1.4350 that I reported earlier on the order board and retreats to 1.4336. EURGBP downward pressure adding to the GBP+ scenario as 0.7980 gives way to post 0.7962.
More EURGBP bids into 0.7950 and once again we will look for this pair and GBPUSD to play off each other. A break of one will continue to play out on the other.
More strategic GBP bears and EUR bulls won't be phased by the current moves just yet. We're still range trading in real terms.
