Well-documented trendline resistance at .8555 has given out in early European trade, amid talk of hedge fund buying. . Cross up at .8563 from early .8535.
Focus on growth and public finance data due for release later today, both event risk for sterling.
09:30 GMT: UK GDP Q4 expected +0.5% q/q, +2.6% y/y
09:30 GMT: PSNCR for December expected 16.3 bln, PSNB expected 20.0 bln
UPDATE: We’ve been as high as .8573 so far. Next resistance .8595/00. Sell orders seen clustered up there.