GBP/USD - 1.6405 .. Cable rebounded after falling marginally to 1.6338 this morning on short-covering n due partly to cross-related buying in sterling (gbp/jpy bounced fm 155.27 to around 156.00). Offers at 1.6390/00 have been absorbed n more selling interest fm various accounts located fm 1.6420 up to 1.6450 with stops reported abv latter lvl n further out at 1.6490/00. On the downside, fresh bids are building up at 1.6370/80 n 1.6350 with stops reported below Australian low at 1.6338 n also around 1.6300. Traders await the U.K. Nationwide house prices data due out at 06:00GMT for more clues on cable's direction.
Join the Discussion