Market Moving News: GBP/USD - Feb 4

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GBP/USD - 1.5896.. No more aggressive sterling bulls were seen in Asian trading though rumour of certain Asian player was defending an option barrier at 1.5850 had helped price to stage a minor bounce fm 1.5878 to 1.5921 (Australia). Bears are now back in full force to avenge y'day's short-squeezed to 1.6070. Selling interest remains at 1.5950-70 n believe many impatient sellers have already lowered their offers. Cable's fate is closely tied to euro these days as it is no longer protected by the eur/gbp cross anymore.

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