Cable has firmed in early European trading, presently at 1.4830. Risk appetite having been dented slightly overnight by Chrysler/swine flu developments, still looks robust.
Nationwide April house prices came in at -0.4% m/m, -15.0 y/y versus +0.9% and -15.7 in March. The numbers were better than median forecasts of -1.2% and -15.8% and will have helped underpin cable early.
Technical support lies at 1.4805/10, resistance at 1.4850/55. Downside for cable looks pretty limited at present, further gains could well be on the cards.
