Cable is heading into the 10am EST NY option cut on the front-foot, consolidating gains to a one-month high of 1.9045. Helping underpin the pound is expectation that the UK base rate will be hiked by 25bp to 5.0% next week (Nov 9), with risk of a further 25bp increase to 5.25% to follow in early 2007.
1.9075 (September 25 peak), 1.9092 (August 31 top), and 1.9146 (August 8, 16-month high) are among GBP/USD bull targets north of 1.9045/50. Sterling support points include 1.9004 (Friday's high), and 1.8985 (today's Asian session top).
Looking ahead: a batch of UK data will be published tomorrow, beginning with October's Nationwide UK house price survey at 07:00GMT. October's CBI retail sales survey, and October's GfK consumer confidence gauge, will also be revealed tomorrow.
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