Cable guns for 1.30

Read full post at forexlive.com

We’re
in
the
midst
of
an
old-fashioned
breakout
in
the
pound.
It’s
now
up
in
nine
of
the
past
10
days,
including
three
sizeable
gains
in
a
row.

The
election
uncertainty
has
cleared
and
Starmer
isn’t
promising
tax
hikes
so
the
market
is
happy
to
invest
in
a
place
with
a
bit
of
political
stability
in
a
world
of
turmoil.
Likely
a
bigger
factor
are
the
recent
BOE
comments
that
continue
to
highlight
their
belief
that
the
UK
inflation
dynamics
are
different
and
that
they’re
less
likely
to
cut
rates.

Layer
in
some
broader
US
dollar
weakness
and
the
pair
is
at
an
11-month
high.

We’re
still
a
long
ways
from
the
old
1.60
magnet
but
there
is
still
some
room
to
run
ahead
of
last
year’s
high
at
1.3124.

Last
week,
I
spoke
with
BNNBloomberg
and
made
the
case
for
buying
the
pound.