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Cable test 50-day EMA

GBP
  • There's no stopping in the Pound, and seeing some short term short cover as we break through another resistance.
  • Its been a one way price action, with Cable gaining over 60 pips since 07.31 GMT.
  • There's not much in terms of technical at current level.
  • Next upside resistance is much further out towards 1.3514 High Nov 18 and a key resistance
  • Gilts hover near session low on the back of the move, support in Gilts is at 124.94 High Nov 25 and gap low

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