There’s a 1.6300 expiry at the 1000 EST NY cut today which looks to be dampening the bulls who earlier saw the spike to 1.6369 in Asia following the fiscal cliff deal announcement.
There’s some tech support down around 1.6300 ahead of bids below in the 1.6240/50 region. Offers remain from 1.6370 and trail up to 1.6400 which supposedly holds a barrier.
NB: Barclays apparently now favour a move higher towards 1.6430/60 ahead of a look at the Aug 2011 highs of 1.6620, but warn of choppy trading ahead after the break up through last year’s 1.6310 high in Asia overnight.
Cable’s presently sitting around 1.6303
