Cable moves up to a session high of 1.3205 currently
After a bit of a tug of war around the 100-hour MA (red line), cable buyers are looking to establish more upside momentum above the 1.3200 handle in the European morning.
Besides some minor resistance around 1.3195-00, there isn't much in the way ahead of a test of the 31 December high @ 1.3284 from a technical perspective.
The pound is also seeing good momentum after bouncing off a key support against the yen as seen below here:
With geopolitical fears abating, that is helping to see GBP/JPY gather further momentum to the upside as well (the pair is also breaking above both its key hourly moving averages).
Looking ahead this week, tomorrow we will see Boris Johnson meet up with Ursula von der Leyen and Michel Barnier to discuss on Brexit matters. That will be one of the key risk events to watch alongside the UK parliament debating Johnson's Brexit bill again.
