BBH - "Turning to sterling, it is benefiting from the weaker US dollar environment. With today's modest gains, it has completed a 61.8% retracement of the decline from the year's high near $1.631 on Sept 21 to the mid-Nov low near $1.5830. The next upside target comes in near $1.6200, but a retest of the year's high is looking increasingly likely. Sterling continues to lag behind the euro, however. The euro's Oct high near GBP0.8165 is the next immediate target, but there is near-term technical potential toward GBP0.8200."