Cable is ticking higher, presently testing technical resistance in the 1.6425/30 area. Risk appetite is in good shape at the start of the week and this is helping underpin cable.
There was good news on the UK housing front, with Rightmove data showing house prices rising +0.6% in July, up from a -0.4% fall previous month. The annualised rate came in at -3.1%, the smallest decline in a year.
Technical resistance above 1.6425/30 up at 1.6460/65.
For cable to get a sustained lift, EUR/USD bulls need to find a way to take out touted China sell interest up around 1.4200.
