GBP/USD (current price: 1.4614)
The Pound got another boost from a Brexit-poll and it rose compared to all of its counterparts yesterday. The day’s other winner, the U.S. Dollar, also lost almost 1% against the Pound as the good news on U.S. housing was outweighed by the positive sentiment towards the British outlook. The 200-day MA is bow very close at 1.4775, coinciding with the prior high from late April. The 1.4660 resistance still lies ahead for the pair, and the Dollar rally could even drag Cable lower if investor sentiment turns negative again.
Our assessment: The short-term rising trend channel is still intact and the cross looks ready to test the upper boundary of the channel in the coming sessions.
