London, July 2. Cable has tested 1.9900 bids after tumbling from an early Europe intra-day high of 1.9975 on the back of steep drops in the Marks & Spencer and Taylor Wimpey share prices. M&S shares have fallen by more than 20% (BBC website), with Taylor Wimpey shares down 55% (Times website). A 1.9900 option strike rolls off at today"s 10am Eastern NY cut (14:00GMT).
Further demand is tipped at 1.9890, with sell stops pegged below that level (Monday"s low was 1.9881). 1.9931 (today"s Asian session base) is now a resistance level.
UK business confidence has fallen to a 16-year low, according to BDO Stoy Hayward (BBC website).
June"s UK construction sector PMI is due at 08:30GMT, alongside BoE Q1 Housing Equity Withdrawal data. The construction sector PMI is forecast to fall to 42.5, from 43.9 in May. New BoE Deputy Governor Charles Bean is slated to speak at a UK Treasury Select Committee Appointment Hearing at 14:30GMT. Bean succeeded Rachel Lomax yesterday.
Further demand is tipped at 1.9890, with sell stops pegged below that level (Monday"s low was 1.9881). 1.9931 (today"s Asian session base) is now a resistance level.
UK business confidence has fallen to a 16-year low, according to BDO Stoy Hayward (BBC website).
June"s UK construction sector PMI is due at 08:30GMT, alongside BoE Q1 Housing Equity Withdrawal data. The construction sector PMI is forecast to fall to 42.5, from 43.9 in May. New BoE Deputy Governor Charles Bean is slated to speak at a UK Treasury Select Committee Appointment Hearing at 14:30GMT. Bean succeeded Rachel Lomax yesterday.
I already know anything I do from here aint gonna be pretty. DAMN No Money for the Money Bin Today. 
What the hell is up with this market? 
