Cable hits new 2020 highs and pressuring 1.36 barrier, as strong bullish acceleration extends into third straight day, advancing nearly 2%since Tuesday’s opening.
Rising hopes of eventual Brexit trade deal keep pound inflated, along with improving global risk sentiment on vaccine / economic recovery acceleration hopes.
Break of former top at 1.3514 (2019 high) opens way towards target at 1.3672 (Fibo 76.4% of 1.4376/1.1409 downtrend) violation of which would unlock psychological 1.40 barrier.
Technical studies are in strong bullish setup on all larger timeframes and support the advance.
Res: 1.3600, 1.3634, 1.3676, 1.3693.
Sup: 1.3538, 1.3495, 1.3434, 1.3395.
