Cable touches the 1.30 mark for the first time since 13 May

Cable D1 21-10

The pound optimism on the session looks to be building further as cable is running to fresh highs above the 1.3000 handle currently.

Dollar weakness is in part related but the bulk of the move stems from the upside run in the pound during the session, particularly after the DUP said that they won't back a customs union amendment in a vote.

Technically, there is much to get excited about the pound upside if price can hold a firm break above the 1.3000 level. However, it needs to be supported by the fundamentals.

As things stand, there are still a couple of concerns still left on the table and traders appear to be taking for granted the notion that the EU27 will approve an extension.

While I am also fairly confident of that happening as well, it still isn't a 100% done deal. Neither is Boris Johnson's withdrawal agreement and potential "meaningful vote" today.