GBP/USD touches a session high of 1.3121
Notably, price is moving away from the 200-hour MA (blue line) which has been a battleground between buyers and sellers over the past few sessions.
Sellers tried for a break but were unable to firmly move below 1.3050 and now we're seeing buyers try to wrestle back some control in the process.
There is some near-term resistance from the 100-hour MA (red line) @ 1.3151 and that could be next spot where buyers and sellers do battle once again. The move higher in the pound is largely coming after the euro also sees some bids in the past hour.
That is largely thanks to some better-than-expected PMI data revisions - particularly Germany - and cable moving back above 1.3100 is helping to give added momentum for buyers.
Also, GBP/JPY is leaning on some support from 141.17 today is allowing pound buyers to get added momentum from the cross in a move higher. As for risk events, we'll have the UK final services and composite PMI readings next.
