GBP/USD - 1.9921..Despite retreating sharply fm 1.9947 to 1.9850/52 in NY, cable managed to ratchet higher once again partly due to cross buying in sterling. Bids by European names are reported at 1.9850/60 with stops below 1.9820 n 1.9810. Offers by U.S. names n model funds are seen at current level, then 1.9940/45 n further out at 1.9950/60 with stops placed abv 2.0000 level.