Cable climbs above 1.61

Author: Adam Button | Category: News

Cable is running toward the recent highs.

GBP/USD has rallied to 1.6115. There are reports of offers from 1.6120 stretching up to 1.6132 — which represents a five-week high.

I don’t see any great reason to fight the upward momentum in cable, although it will be extremely tough to break 1.6132 today.