GBP/USD touches 1.3557, past the November 2017 high of 1.3549
Cable is seeing a bit of a surge as European markets open for the new year - the pair has been on the move to the upside over the last two trading hours and now touches a high of 1.3557 on the day.
The November 2017 high of 1.3549 provides a very focused near-term resistance point, and that may stall buyers for a bit - but we're looking likely to blow past it without going back to "test" the resistance level. From here, we could see the pair start to head towards 1.3600 where there should be more sellers lurking near the psychological level.
But a move towards the 1.3657 high from September 2017 cannot be ruled out at this point. The dollar weakness that stemmed from year-end trading looks set to continue into the new year. EUR/USD is at session highs of 1.2044 and USD/JPY is at session lows of 112.43.
