Cable up to session highs, take a peek above the 100-hour moving average

Cable touches a high of 1.3584 on the day

Well, that didn’t take long. Looks like my post earlier is one that was short-lived. Cable now inching higher on the day and eyes a break of the 100-hour MA (red line).

That’s a key first step for buyers to reclaim near-term control of the pair, but look out for offers at 1.3600 and as mentioned earlier the 3 January high @ 1.3613 will also be a resistance level to look out for.

The dollar is slightly on the back foot all of a sudden now, surrendering earlier gains. EUR/USD is also back up to 1.1930 and AUD/USD has basically pared losses on the day too up to 0.7515 now.