Above estimate US Nov. PPI rallied US$, GBP/USD fell sharply, hit 1.2208

Downside momentum faded however as risk sentiment improved

GBP/USD buyers emerged and the pair turned positive on the session

Pair broke the Dec. 6 daily high, struck a 4-session high, hit 1.2312

Close above 1.2300, Aug. monthly high will bolsters longs' confidence

Daily, monthly RSIs rising & not overbought, upside momentum remains

61.8% Fib 1.3749-1.0327, May & June monthly highs targeted by longs

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