Cable sits at 1.5960, marginally firmer from North American close Friday down around 1.5945.
While sentiment seems to remain generally bullish toward the pairing, there is a fair-sized dollop of UK centric event risk looking large. This comes in the form of the Bank of England’s latest quarterly inflation report and jobs data for June, both scheduled for release Wednesday. The former is likely to make for fairly unsavoury reading.
Well-touted 1.6000 barrier interest continues to just about survive. Talk a US bank has been busy defending said interest.
Talk of stops through 1.5920 and more through 1.5900. Talk of stops through 1.6010 on topside.