1.5050 has proved good support in the past few days but the rallies have been limited. We've now broken through on general USD demand and running into the next layer of bids around 1.5030. Defence of the 1.5000 barrier option can be expected but I don't have specific detail as to the size. Genera/usual month-end demand on EURGBP helping to cap cable but the pair is still struggling to break through decent offers/res around 0.7050 so impact limited for the moment but keep an eye on both pairs. EURUSD has fallen to.1.0584 with large option expiries in play today. Overall the pound continues to head lower on diminishing ... (full story)