Cable has just popped over 1.5000 as European trading gets underway. Yesterday saw a session high 1.5019 posted before a major US bank stepped in to ruin the cable bull’s party. There was also talk yesterday of sell orders up at 1.5040/50, which I would suspect are probably still in attendance. Some stops probably just above there, but will need to confirm both.
UK data due today:
06:00 GMT: Nationwide house prices for March expected +0.2% m/m, +8.2% y/y
08:30 GMT: UK Q4 GDP (final) expected +0.3% q/q, -3.3% y/y
08;30 GMT: UK current account Q4 expected -5.1 bln
08:45 GMT: Chancellor Darling scheduled to speak.
