The pair closed in NY Wednesday at $1.6737 after rate had recovered off an intraday low of $1.6699 to $1.6768 on the back of stronger than forecast UK services PMi data, and US ADP giving it an added leg higher into the afternoon. Rate eased back to $1.6733 after the London fix before it settled around $1.6740 into the close. A quiet Asian opening saw rate flat line between $1.6736/38 before it nudged up to $1.6744, dropping back to mark session lows at $1.6735 before it recovered to $1.6750 ($1.6751-55-60 50%-61.8%-76.4% $1.6768-33) ahead of the European open. Euro-sterling, which had met decent resistance ahead of stg0.8150 Wednesday, before it eased off to stg0.8120, settled between stg0.81195-0.8126 in Asia. Halifax house price data provides the early domestic data interest (0800GMT) but this will be well overshadowed by the BOE rate decision (1100GMT, no change expected) and the more focal ECB rate decision/monetary policy announcement(1145GMT/1230GMT) with market looking for a cut in rates and liquidity provision. Cable resistance seen between $1.6750-60, a break to expose Wednesday’s high at $1.6768 with stronger interest seen between $1.6780/85 ($1.6782 Jun3 high; $1.6784 50-dma). Support $1.6700-1.6690.
