The pair closed in NY Wednesday at $1.6723 after the rate had been driven to session highs of $1.6741 on a mix of stronger than forecast UK services PMI data, followed in the afternoon by weak ADP and US ISM employment data. Rate pulled back to $1.6711 during the NY afternoon before cable edged higher into the close. Rate marked Asia highs at $1.6729 in early trade before pulling back to retest that NY session pullback low at $1.6711. Another challenge on $1.6729 again met decent resistance ahead of $1.6730 with rate then turning lower into the Asian afternoon, posting an extended low of $1.6707 before it settled around $1.6710 ahead of the European open. Euro-sterlingconsolidated its Wednesday corrective pullback to stg0.8204 through Asia, the rate held within a range of stg0.8208/15. Halifax house price data at 0800GMT provides the early domestic interest, though main focus on the BOE rate decision at 1200GMT (though no change in policy expected), followed closely behind by the ECB rate decision at 1245GMT with its accompanying press conference at 1330GMT. Cable resistance $1.6729/33 (Asia high/76.4% $1.6741-06), ahead of Wednesday’s high at $1.6741. Support $1.6705/695 ahead of $1.6680/70 and $1.6655/50.
