FXstreet.com (Córdoba) - Cable is consolidating gains across the board. Against the Dollar failed to break above 1.6600 and fell to 1.6540. But currently the pair is getting closer to the highs of the day that lie at 1.6603 and trades at 1.6577/79, 1.15% above today's opening price. The next resistance levels lie at 1.6610 and above at 1.6640 (Oct 21 highs).
Andrew Wilkinson, analyst at Interactive Brokers, affirms: The British pound forged ahead to above $1.6600 on the back of today's U.S. growth numbers. One could be forgiven for thinking that the pound kidnapped the GDP data in exchange for its own lousy report of last week indicating a sixth-consecutive quarterly shrinkage that raised alarm bells for the British economy. Mortgage approvals also rose in Britain this month, once again pointing to the sort of anecdotal evidence that MPC member, Adam Posen remarked about last week.