GBP/USD technical analysis
Cable has risen in 8 of the past 9 sessions and it's taking advantage of the quiet US holiday market to tack on another 35 pips today.
The high of 1.3360 today was the best in 7 weeks. Along with taking out that level, the 50% retracement of the mid-to-late September dip has been broken. The 61.8% level is the next one to watch: at 1.3416.
I don't see that as a particularly tough level to break. The best hope for the cable bears is that this week's US dollar weakness reverses when liquidity ramps up on Monday. If that doesn't last through this time on Monday, I expect cable to resume its march to 1.36 and beyond.
