As we move towards the new year the Pound is bashing it's head on the technical resistance zone versus the Euro. The next couple of days could be quite telling whether we see a breakout to the upside or a pullback into the middle of the range. With very little market news scheduled this will certainly be led by Omicron.
Against the Dollar there was a nice jump yesterday but some of those gains were given back overnight.
Some of the strength is coming out of the Pound against other majors such as the Australian Dollar, Canadian Dollar and Swedish Krona but these moves could be down to lower volume meaning smaller orders move the market more than usual.
As ever we look forward to keeping you in the loop and look out for our next update.
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