Cable has popped back over 1.6500 in early European trade, presently at 1.6525. John Lewis weekly department store sales were up an encouraging 5.3%, which will be helping.
Technical resistance now at 1.6550, supports 1.6475/80 and 1.6450.
The release of Q-2 GDP looms large, expected -0.3% q/q, and there will most likley be some caution ahead of the release. As a result hard to see this rally extending too far before market gets a look at the growth data.
