Cable rallies again, triggers stops

OK OK, so the bloody middle eastern sellers weren’t so canny this time round. Cable up, triggers stops above 1.6225 and spikes to 1.6238. Technical resitance now 1.6250/55. Elsewhere EUR/USD has been down to test aforementioned support at 1.4900/05, presently back up a shade at 1.4915. EUR/GBP has continued lower which will be weighing on EUR/USD, the cross presently down at .9185. Some feel comments made by BOE’s Fisher in his FT interview possibly signal a pause in QE or maybe even the end of QE. I read the interview twice and certainly didn’t come away with the impression the bank was finished. They might pause, who knows. I thought he was playing his cards very close to his chest. And it should be remembered he’s only one member.

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