Despite seeing slightly choppy trade, albeit confined to a relatively narrow range, cable is holding up well. It sits presently at 1.4875. Chart resistances now at 1.4900 and 1.4920.
Sterling is garnering support from the performance of European banking shares which are performing well this morning, bolstered by Goldman’s strong earnings report. Also underpining sterling is the upbeat report from Lombard Street Research regarding UK house prices.
