Cable is easing back toward minor intraday support at 1.9813 after a pop to 1.9845 at its best levels. Profit-taking in GBP/JPY is having the most pronounced influence on prices as dealers look to wind things up after a choppy week. GBP/JPY jumped two JPY from 236.50 to 238.50 on a sudden willingness to reassume risk after US equities took off to the upside earlier in the day.
Those gains have moderated, with the cross now changing hands at 238.00. Cable has given back a third of its intraday gains and should find support on dips to 1.9805, the 50% retracement of the 1.9760/1.9845 rally.
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