Cable catches a bid into the London fix

We’re near month-end so I’m not surprised to see some flows driving trade.

Cable has been strong in the last 30 minutes or so and that’s likely on fixing flows and perhaps some stops above yesterday’s high. The pair is now trading at the best levels since December 17.

If it can hold above Mondays’ high of 1.2690 it would be a good sign for the technicals.

There is some broad USD selling pressure hitting at the same time and I’ll monitor that post-fix. I don’t see any headlines driving it.