GBP/USD: Decent Size 1.9640-50 Bids Continue to Underpin

Decent size bids at 1.9640-50 are continuing to prop cable. The most recent drop to the support window has come on the back of EUR/USD weakness spurred by the ECB cutting its 2007 EZ HICP inflation forecast to 1.5-2.5%, from 1.9-2.9% previously. Yesterday's post-ADP employment report low of 1.9617 is a GBP/USD bear target south of 1.9640. 1.9600 is a lower prop.