Cable touches a session high of 1.3449
Buyers managed to seize near-term control on a break above 1.3400 earlier in the session and haven't really looked back as cable extends gains to fresh highs on the day.
The push back above the key hourly moving averages sees the near-term bias switch to being more bullish now but there is still key daily resistance from the 1 September high @ 1.3483 as well as added resistance closer to the 1.3500 handle from last week.
Once again, this reveals the positioning skew is leaning more towards a positive outcome from the meeting between Johnson and von der Leyen later today.
As is the case in the past few weeks, this is a market itching to buy up the pound so let's see if there will be any positive news to give buyers another push to open up the next leg higher upon a break of the key levels highlighted above.
On the flip side, a negative outcome later also highlights the amount of pain that may follow considering the position the market is resting on right now.
