GBPUSD on a tear as market jumps on risk and M&A chatter

GBPUSD continues its gain from 1.5164

Aside from the market suddenly turning around on better risk sentiment, the quid is also being bolstered by M&A talk. Tesco's is said to be selling it's South Korean business, Mitsui Sumitomo Insurance is after UK's Amlin and Zurich Insurance is after RBS

We've come 11 pips from 1.5400 and technically there's going to be a lot of eyes on the area between the 38.2 an 50.0 fibs of the 1.5818 drop

GBPUSD H4 chart