The pound has been on the back foot lately but not this morning 24 May 2016 I wasn't sure who was leading who but now it's reasonably clear that someone unloaded a large EURGBP sell order on to the market and that's triggered the chain reaction elsewhere as ever. EURGBP down to 0.7683 from 0.7728 after failing to penetrate 0.7755-60 offers that I've been highlighting over the past day or so. GBPUSD rallies from 1.4487 to post 1.4547 just ahead of decent offers/res into 1.4550-60. EURUSD down to 1.1173 but with decent corp demand we might see some support down here. In that/any case watch EURGBP for clues on cable ... (full story)