Sterling kicks off the week on a high

Sterling kicks off the week on a high, with GBP/USD back above 1.41 for the first time in a week and EUR/GBP some penny and a half off last week's peak. Contributing factors are Rightmove reporting a 0.9% month-month rise in UK house prices, higher stocks, which is helping risk appetite, and oversold readings on the charts. Monday sees the BOE's 2nd two-part QE auction with results around 1300 GMT and 1445 GMT. Chartwise, BNP Paribas says GBP/USD above 1.4075 targets 1.4180 and possibly 1.4310 while EUR/GBP below 0.9170 targets 0.9130 and 0.90785 with resistance at 0.9210. EUR/GBP trades at 0.9160, GBP/USD at 1.4160.