1.2420 offers/res now history as GBPUSD buyers prevail 29 March
That level had previously proved tricky after the Asian fall to 1.2376 but a failure to break lower has encouraged some short-covering.
Stops triggered ( today's buzzword eh?) as I warned of pre-data to post 1.2446 ahead of the next tranche at 1.2450.
Expect more two-way business as we wait on PM May to deliver her speech at 11.30 GMT but it does seem the main selling is done for the moment. I remain a rally seller though but not diving back in just yet after the Asian retreat worked well.
1.2450 business as I type. EURGBP also on session lows at 0.8660. Bids into 0.8650 the next hurdle
