GBP Mid-day Analysis

A huge range up extension overnight comes compliments of a much stronger than expected UKIndustrial output result. However, the Pound is also benefiting from overt weakness in the Dollar, favorable Eurozone auto sales talk and from a measure of technically related buying interest. In fact, with the upside breakout onthe charts and the Pound reaching up to the highest level since March 13th, there might be little in the way ofresistance seen in the coming sessions until the 1.6773 level.