GBP/USD climbs to a high of 1.3730, its highest level since May 2018
The push higher in cable comes as we see a further breakdown in EUR/GBP to start the session, with the pair slipping to 0.8832 - its lowest levels since May last year - as price threatens to break key support at 0.8866-67 more firmly as well as the confluence of its key weekly moving averages @ 0.8834-37. More on that here.
This has underpinned cable to fresh highs since May 2018, as pound buyers are threatening a firm break above 1.3700 again after having failed several times to start the year.
Hold a close above and that sets up a nice and steady platform for cable to look for further gains with little in the way of a potential push towards 1.4000 next - at least from a technical perspective currently.
The dollar is also keeping lower and that is providing an added impetus for cable to keep a push higher on the session, so that's another potential tailwind to consider.
