The pair closed in NY Monday at $1.6634 after rate had earlier in the session found decent support ahead of $1.6600, which based the rate at $1.6605, before it bounced up to $1.6667 (corresponds to stg0.60p/21-dma) where it met resistance. Rate then stepped its way down to $1.6631 ahead of the close. In Asia the rate slowly drifted to a high of $1.6645 before easing off to $1.6633 ahead of the European open. No UK data, market focus on Wednesday’s BOE Minutes and employment data, with moves to come from outside influences. Germany court ruling on ESM at 0900GMT, ZEW at 1000GMT with Russia’s Putin due to speak at 1100GMT (Crimea accession following on from Sunday’s referendum). US inflation and housing starts data at 1230GMT followed by TICS at 1300GMT. Euro-sterling saw a pullback low of stg0.83425 Monday before it recovered to stg0.83765, with rate consolidating this recovery in Asia between stg0.8368/78. Resistance remains at recent high (2014 high) of stg0.8381 ahead ofstg0.8390-0.8405. Support stg0.8345/40 ahead of stronger interest into stg0.8320.
