The pair closed in NY Thursday at $1.6625 as rate fell away from earlier highs of $1.6719 to a late session low of $1.6610 as market reacted to the increased rhetoric over this weekend’s Crimea referendum, which knocked risk, with ECB Draghi providing his own warnings over low inflation and euro strength which provided for a deep pullback in euro-dollar. Cable consolidated this corrective pullback through a fairly subdued Asian session between $1.6612/27. UK construction output and the delayed UK trade numbers provide the domestic data interest at 0930GMT though events outside the UK likely to have more influence with the Ukraine/Crimea situation still bubbling away in thebackground. Cable demand remains in place between $1.6610/00 (NY low $1.6610;76.4% retrace of $1.6568/1.6719 at $1.6704). Below the figure and next support $1.6580 ahead of the Mar12 low at $1.6568. Stronger demand noted at $1.6555/50.Resistance $1.6630 with stronger interest into $1.6650. Further resistance notedbetween $1.6665-80 ($1.6665-77 50%-61.8% $1.6719-1.6610). Euro-sterling brokeback below stg0.8350 Thursday, touching a pullback low of stg0.8331, with rateconsolidating this move between stg0.8339/46 through Asia.
