GBP/USD upside stalled near 1.3270
- Cable’s upside halted ahead of 1.3270.
- Some positive headlines around Brexit helped spot.
- UK’s political effervescence appears somewhat alleviated.
The buying interest around the Sterling remains well and sound so far this week, allowing GBP/USD to edge higher towards the vicinity of the 1.3270 area during early trade.
GBP/USD stays close to 3-week peaks
Cable is extending the upside for the third consecutive week so far today, gaining around 2 cents since late October’s lows in the 1.3040 region.
GBP gained some extra traction as of late following positive headlines from the Brexit talks, where the ‘divorce bill’ and a potential UK-EU trade deal remain in centre stage.
Furthermore, the UK political turmoil appears somewhat appeased, lending some extra legs to the British Pound.
Ahead in the session, investors’ attention will be on the release of the Autumn Budget by Chancellor P.Hammond.
GBP/USD levels to consider
As of writing the pair is gaining 0.09% at 1.3253 facing the next hurdle at 1.3279 (high Nov.20) seconded by 1.3321 (high Nov.1) and then 1.3343 (50% Fibo of 1.3658-1.3017). On the downside, a breach of 1.3194 (10-day sma) would open the door to 1.3130 (100-day sma) and finally 1.3062 (low Nov.13).