3 December 2001, 09:23  Currencytalk: GBP/USD kept soft by cross weakness

The failure last week to break above the 1.4285/90 resistance level has weighed on the pairing. With EUR/GBP being steadily bought by US names in NY on Friday, it is cable which has taken the strain. Currently around 1.4225/30 dealers seeing stops below 1.4190 with some fresh buying interest down around 1.4140/50. The EUR/GBP pairing has tested the 0.6300 10th October highs in Asian trading and a break should see the 0.6330 long term trendline tested. In the UK this morning sees the CIPS manufacturing survey, and the MPC meets later in the week, though no change is looked for this time aound.

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