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*Dec15 cable open $1.3427, range...>

STERLING SUMMARY
STERLING SUMMARY: *Dec15 cable open $1.3427, range $1.3423 to $1.3446. Eur/Gbp
open Gbp0.8767, range Gbp0.8766-0.8775. Dec14 range Gbp0.8761-0.8833
*Cable opened in Asia toward the middle of the $1.3394 to $1.3467 range
witnessed yesterday, where initially pressured lower following the BoE rate
decision, where reports that Q4 GDP growth might be softer than expected was
seen to weigh. However, the pound bounced back on Eur/Gbp supply following ECB
Draghi's press conference that was deemed dovish
*It was a low-key affair in Asia, with no significant news or data, the pound
oscillated between $1.3423 and $1.3446, with little in the way of flows to
report 
*Close-by option expiries are seen at $1.3200-10(Gbp475mn), $1.3300-02 and
(Gbp1.11bn)
*Resistance lies at $1.3467/70 (Dec14 high, 76.4% $1.3521-$1.3303), while
yesterday's base at $1.3394 provide support
*Eur/Gbp consolidated toward the low seen yesterday and held a tight
Gbp0.8766-75 range.

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