- EUR/GBP has found decent buying interest on dips below .7950 from EZ corporates;
- Macro funds were noted ‘short-coverers’ yesterday in the cross;
- Bids were reported late yesterday in cable near 1.7070 but heavy macro stops also below 1.7055.
I will continue to respect the support levels in the cable but with the market already long and with holiday-time approaching, bears will also get their opportunities.
I’d suggest 1.7070/1.7110 for the Asia session.