GBP/USD (current price: 1.4495)
The Pound continued its bullish run o Monday compared to most of its G10 counterparts, with only the Yen gaining slightly on the strongest currency of the last two weeks. Cable hit a 3-month high above 1.45 and it’s now up by almost 4% from its monthly low. The British GDP-growth number will be released later on this week, and a positive surprise could give a further boost to the Pound’s rally, after breaking out on the upside of the flag-consolidation pattern that we have been monitoring in recent weeks.
Our assessment: Cable might be headed up to the 200-day MA, which is currently at 1.4850 as Brexit fears take the back seat for now, and traders unwind their bearish bets on the currency.
