Good name demand helped cable reclaim a 1.93 handle following its earlier foray below the figure. Touted offers at 1.9350 represent an appreciation obstacle. Cable notched intra-day highs just shy of 1.9350 during the London morning, on the back of good size GBP buying re: a dividend payment.
There is also speculation that a US bank has been a buyer of GBP today, re: rumoured GBP/JPY option flow. 1.9375, 1.9400, and 1.9435 (Dec 18 low) are bull targets/resistance levels north of 1.9350. Sterling support points include 1.9285 and 1.9260/65. GBP/USD plumbed a fractionally fresh six-week low of 1.9260 in Asia today. 1.9264 was Friday's post-NFP floor.
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