The big event this morning is the much talked about GDP at 0930GMT and you’ve got Gerry’s and my take on that….
Before that there’s the German IFO Business Climate Index at 0900 GMT which is expected to improve to 103.00 from 102.4.
Cable’s struggling to bounce after the 1.5800 barrier was breached yesterday, but remains just above tech support at 1.5755/60. EUR/GBP ‘s taken another leg higher but faces some tech resistance now at 0.8500/10 (Feb 24 2012 high 0.8506). A break there points the way to 61.8% retracement of the 0.9084/0.7756 fall at 0.8577.
GBP/USD’s sitting around 1,5762 with the cross at 0.8476
