GBP/USD pushes to a high of 1.3188 on the day
Price is now threatening a break of daily resistance around 1.3175 after taking out some stops around 1.3160 as reported earlier. The pound is still riding on the back of optimism that Brexit will be delayed and that May will look to rule out a no-deal option down the road. Just be wary that it is now reported that May is due to deliver an oral statement on Brexit at 1235 GMT.
As for cable, light offers lie around 1.3200 next with the late January high at 1.3217 to pose further resistance for buyers. At this point, markets are factoring in a more positive message from May later so just be mindful that if she doesn't deliver on that front, expect the pound's gains today to be taken down a notch or two.
