Cable is ticking higher in early European trade, continuing yesterday’s impressive rally. We’re presently up at 1.6100.

Resistances now come at 1.6120/25, 1.6150 and 1.6175, support 1.6050/55.

Couple of pieces of economic data:

07:00 GMT: UK Nationwide house prices for December expected +0.3% m/m, +5.6% y/y

09:30 GMT: Q4 BOE credit conditions survey.

FTSE set to open higher this morning.