GBP/USD: Ascends to Fresh 14-Year High post-Chicago PMI

Cable has risen to a new 14-year high of 1.9627 on the back of fresh USD selling following the disclosure of November's sub-50.0 Chicago PMI index. 1.9650 is among touted bull targets north of 1.9627. Commercially-driven demand for GBP has been tipped as a prime factor in today's cable appreciation. 1.9600 (former exotic option barrier level) is now a pullback support point. Lower props include 1.9580 (London morning high), 1.9550 (Dec 2004 top), and 1.9545 (yesterday's peak).