The pair closed in NY Thursday at $1.6415, euro-sterling at stg0.8340. The rate lifted to intraday highs of $1.6438 in holiday-thinned markets, before paring light gains to consolidate above $1.6400. Euro-sterling bounced off 3 week lows of stg0.8329 and extended the recovery in tandem with euro-dollar to close near session highs. Risk appetite continued in early Asia, cable opened on a bid tone and spiked to $1.6430 in early dealings. Profit take sales provided a counter, before the move met fresh demand in the dip taking the rate to extended session highs of $1.6448. Offers ahead of $1.6450 capped the topside as the pair held firm settling around $1.6440/45. A break opens strong offers into $1.6480, techs behind at $1.6484 (18 Dec & 2013 high), ahead of the$1.6500 barrier. Euro-sterling continued firm taking out stg0.8350 offers to print highs of stg0.8358. Tech resistance is seen at stg0.8366 from the 21-day ma, a break opens offers on approach stg0.8385/90. No UK data release scheduled for today amid holiday thinned markets as we approach month/year end flow.
