Cable is seeing steady trade at lower levels as it tries to consolidate earlier hefty gains. We’re presently at 1.6385 having posted a 1.6431 session high.
Sterling has been a major beneficiary of improved risk appetite, as mounting data evidence points to a turnaround in the global ecnonomy.
Much is being made of recovery signs in China, but the official Chinese rhetoric still seems pretty downbeat, evidence comments from the Chinese Bank regulator we saw earlier.
Anyways for today, trailing support down at 1.6350/60 and 1.6330, resistance up at 1.6430/35 and 1.6455/60.
Last week read alot about GBP bulls looking for move to 1.6450-1.6500 area. Nearly there.