Closed in NY near intraday lows of $1.6067 after sterling continued its recent corrective pullback following another set of disappointing data. However, with euro-sterling holding a tight stg0.8020/30 range through the Asian session cable tracked euro-dollar’s recovery, meeting initial resistance at $1.6100, before a bounce off $1.6080 took it on to session highs of $1.6106 into the European open, where it retains a firm tone. Resistance seen between $1.6115/25, a break to open a move toward $1.6140 then $1.6160/65. Support seen back at $1.6080 ahead of $1.6065/50. BOE MPC announcement today at 1100GMT in focus, though no change in rate and QE expceted. Halifax house price data at 0700GMT to provide early focus.
EasyForexNews Research Team