Sterling Retains Firm Tone

Sterling retained a firm tone through Tuesday's session.
Cable decoupled from EUR/USD, as the EUR came under pressure through
the day via cross sales, allowing EUR/GBP to break back below its key
10-dma (current Gbp0.9084).
Eventual clear above $1.2900 saw rate propelled up to $1.2947 into
the fix, with only a minor pullback post fix to $1.2928 before extending
move to $1.2953 at the Europe close.
Minor support support seen at $1.2940 ahead of $1.2928 and $1.2900.
Resistance remains at and above $1.2950, a break to expose $1.3000.
76.4% retrace of the move down from $1.3514(Dec13-2019 high) to
$1.1412(Mar20 low) comes in behind at $1.3018.
Wednesday value is month-end, chance we see US corporate USD
demand emerge, though early month-end models suggest USD sales
to be seen at Friday's fixes.