The pound is the best performing major currency today
The pound is gaining bids across the board and is moving to session highs on the day against the dollar, euro, and yen to name a few. I don't see any major headlines to have caused the move but so far it's been a case of pound resilience in light of Brexit news/rumours hinting that the October deadline is most likely not going to be met - as very much expected.
The 1.2900 will be a key area for buyers to hold above as the swing high from Monday failed to sustain a move there before tailing off. Yesterday's move higher managed to touch a high of 1.2933 but resistance from last week's highs helped to cap any gains in GBP/USD.
The surge higher in the pound comes as cable buyers regain near-term control by breaking above the 100-hour MA (red line) and since then it's been a steady track higher. And it's a similar story for GBP/JPY as well:
The pound's move higher now also brings into question further a test of the bullish momentum in EUR/GBP, as highlighted here with the 100-hour MA there also lurking nearby now.
