The quid keeps its bid after the UK data and is pushing higher
A favourable day for the pound today and it's rising against a host of currencies.
GBPJPY is making new highs into 145.00, while EURGBP is making new lows down to 0.8444.
GBPUSD is cementing itself above 1.2900 to reach 1.2929, just below Friday's highs around 1.2935.
GBPUSD 15m chart
Get through there and we'll be on for a test of last week's highs around 1.2965.
GBPUSD daily chart
1.30 is the big fat target a lot of people are looking at and we should see a good battle up there on the first test. If, and depending how, we go there, I'm probably going to play a big figure short there on the first test to try and grab 20-30 pips (or more).
Support will need to build around 1.2900/10 to protect this rally but if it doesn't, 1.2850/60 looks to be the more important line here.
