Closed in NY at $1.5890, off extended pullback lows of $1.5842, as well as finishing the session well clear of its 200-dma at $1.5851 after probing below. Rate marked lows into early Asia at $1.5885 before stepping its way higher through the balance of the session, the rate edging to an eventual session high of $1.5910 ahead of the European open. Early Europe extended this recovery to $1.5917 before momentum faded, the release of weaker than forecast Nationwide house data providing an early knock back to $1.5902 but fresh demand was waiting to buy into the dip and take it back up to $1.5915 at writing. Offers seen placed between $1.5935/45, a break to expose the $1.5964 level (recovery high Wednesday and 76.4% $1.6002/1.5842). A break here seen key to a revisit toward $1.6002. Support now seen toward $1.5900 ahead of $1.5885/80 with the $1.5850/40 area still key on the base ($1.5850 200-dma today). UK borrowing data due at 0830GMT. US jobless claims the standout data on the day. End month EUR/GBP could still be around to counter sterling strength but the pound remains buoyant.
EasyForexNews Research Team