Cable retreats again providing good two-way trading

28 June 2016, 13:25
Sherif Hasan

A busy morning for the pound again 28 June 2016

We've seen good two-way business on the pound this morning with GBPUSD and GBPJPY particularly enjoying some action.

In the cable order-board I highlighted the near term supply between 1.3350-1.3400 and we saw 1.3373 before a return to test 1.3300. Good opportunities to be had for both bulls and bears.

What's not to like? Expect more of the same.  European equities still looking firm so downside for the pound limited until they turn ( just a wet finger in the air barometer).

Meanwhile latest BOE repos picked up some interest this morning helping to provide some GBP dip-demand

GBPUSD currently 1.3318 with EURGBP 0.8310 having found decent support around 0.8285.

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