Cable holding up well so far

Cable holding up pretty well. Presently up at 1.5620 from North American close Wednesday down around 1.5595. In line with generally slightly softer dollar tone.

Interesting to see the current rally has so far been pretty much capped by fibbo level 1.5636 (50% of move from 1.7044 to 1.4228) Would hazard a wild guess that there are buy stops languishing not far north of said level.

UK data due today:

06:00 GMT: Nationwide house prices for July expected -0.3% m/m, +7.0% y/y

08:30 GMT: Consumer credit for June expected +0.2 bln; net lending on dwellings for June expected 1.0 bln; mortgage approvals for June expected 48.8k from 49.8k; Final M4 money supply for June.