GBP/USD moves above its 100-hour moving average
There’s no specific headline really causing the slight lift in the pound to start the session but technically, cable has risen back above its 100-hour MA (red line) and that has helped push price to a session high of 1.2950.
Buyers have been banging on the door of the key near-term level since overnight trading but have finally found a breakthrough for now.
That said, all this does is reaffirm that Brexit deal hopes are still very much alive and kicking but in the wake of uncertainty posed by a potential general election, I reckon any gains close to the 1.3000 level may prove to be fleeting still.
This article was originally published by Forexlive.com. Read the original article here.