The pair closed in NY Monday at $1.6356 after rate had pulled back from an earlier session high of $1.6443 (seen in Asia), getting a slight lift back on release of stronger than expected UK mfg PMI data, before touching a low of $1.6343 during the European before rate settled around $1.6350 into the Asian session. Asia lifted rate to $1.6365 in early trade before it dropped back to mark lows at $1.6347 where it picked up fresh demand that allowed it to move through that earlier high and on to $1.6372 ahead of the European open. Euro-sterling, which had seen extended lows of stg0.8252 Monday, had recovered to stg0.8287 ahead of the session close before ending the day at stg0.8280. Asia trade saw rate ease down to stg0.8269, recovering to stg0.8276 ahead of Europe.UK construction PMI and FPC Minutes are due for release at 0930GMt in an otherwise data light day. Cable resistance seen at $1.6380 ($1.6381 38.2% $1.6443-1.6343) ahead of $1.6395/05. A break here to open a move toward $1.6420 ahead of $1.6440/50. Support seen at $1.6350/40 ahead of $1.6320/15. Cross support remains into stg0.8250, resistance stg0.8280, stg0.8300.
