Struggling to match the EUR/USD rally with an Asian high of 1.6180 as the EUR/GBP consolidates.
There are offers in the cross up around 0.8220/25 (Dec highs) which look likely to be challenged and cable has some fibonacci resistance around 1.6185 as well as an option expiry today at 1.6175 ( the size of which i don’t have at the moment).
Cable does have some bids in the 1.6140/50 zone and more down at 1.6080/00 from sovereigns /real money/M/E names, with sell stops below through 1.6075. Offers now rest from 1.6180 up to 1.6200 (Middle Eastern names apparently again in the frame)
GBP/USD’s sitting around 1.6150 with the cross at 0.8213
