Cable extends rally

Source: www.forexlive.com

Cable is seeing acclerated gains this morning, presently at 1.6140. Buy stops are said to have been triggered on breach of 1.6100. Sterling is being bolstered by improving housing data and by the fact PM Gordon looks safe for now. There is also al ot of speculation that sterling is being boosted by postive M&A flows eminaating from the proposed sale of Barclays fund business for $12 bln to $13 bln in cash and stock to Blackrock Inc out of the States. Technical resistances now at 1.6145/50 and then 1.6200


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