The pair closed in NY Monday at $1.5219 after rate had recovered off a NY session low of $1.5206. Rate earlier in the day had seen lows of $1.5183 before bouncing sharply higher to $1.5247 on release of stronger than forecast UK mfg PMI data (the rate able to extend this high to $1.5249 post 4pm London fix before dipping back to $1.5206). Cable traded with a soft tone into Asian dealing, easing off the NY close to an eventual low of $1.5194 as euro-sterling consolidated around extended recovery highs between stg0.8583-0.85945 (Europe high Monday stg0.8590, NY stg0.8587). Cable was trading back above $1.52 into Europe, currently around $1.5205, the cross around stg0.8588. UK construction data due at 0830GMT, with BOE Tucker and Bailey in Parliament at 0900GMT providing the domestic interest. Cable resistance seen into $1.5220, a break to open a move toward stronger interest at $1.5250. Support $1.5195/85 ahead of $1.5165-50, with stops noted below. Euro-sterling offers remain in place to stg0.8600, a break to expose stops and open a move on toward stg0.8630/40. Support stg0.8550/40.
