A giddy quid keeps its inflated rally
Carney who? Pound traders don't care right now as they smell a changing scene over at the BOE.
1.2500 is the immediate target and whether we hold or breach that will be a good gauge of expectations that the BOE will start talking about hikes more broadly.
GBPUSD daily chart
Virtually the whole of 1.2500 to 1.2600 is full of various highs and resistance that makes it a tricky place for longs. I wouldn't be looking at calling any sort of break in this rally until we had cleared and held 1.2600.
It might be do or die time shortly for this run but it's still wise to factor in some Brexit related nerves going in to next week's Art50 triggering, misguided though they might be.
