Cable retaines positive mood after pressing on to a $1.59
handle into US dealing, with Asian sovereign demand having pushed the
pair higher in European session. The positive tone in stocks is
helping to underpin the pair, while traders continue to report poor
liquidity exacerbating moves. The closest resistance noted at $1.5970 next at $1.6013
(38.2% $1.6675-$1.5603) and $1.6130
(50% $1.6675-$1.5603) with the long-term bearish stance retained
while cable holds under the daily moving averages. Bids spotted at $1.5900 and $1.5850/40.