Cable takes a peek above 1.3500 for the first time in 3 weeks

GBP/USD touches session high of 1.3503

GBP is the leading currency among the major bloc today, as dollar weakness continues to dominate the year-end theme.

Cable is flirting with the 1.3500 level now as there should be sellers sitting at the psychological level. The November high of 1.3550 would be the next level to look out for on the upside in terms of resistance levels.

GBP/USD broke free of the 23.6 retracement level at 1.3449 earlier in the Asian session and never really looked back. Year-end liquidity is thin, so while rally sellers won out at the start of the month - things at this week of the year could be a little different.

So, be wary of that if you're planning to look for entries to short the pair. Especially when dollar weakness remains prevalent in the year-end trading theme, this may not be a good time to catch a falling knife when it comes to the dollar (at least for today).