GBP/USD clinches highs near 1.3150, Carney eyed

The buying mood around the sterling is now intensifying, lifting GBP/USD to test fresh highs in the 1.3135/40 band.

GBP/USD focus on Carney

Spot is advancing for the third consecutive session today, gaining more than three cents since last week’s troughs in sub-1.2800 levels. GBP has seen its upside renewed following a pick up in the risk-on sentiment along with somewhat diminishing fears following the ‘Brexit’ fallout.

Adding to GBP momentum, political uncertainties have taken a breather in the UK, as Theresa May is getting ready to be the next PM.

Ahead in the session, all eyes on the Inflation Hearings Report and Governor M.Carney’s speech.

GBP/USD levels to consider

As of writing the pair is gaining 1.03% at 1.3127 facing the next resistance at 1.3321 (23.6% Fibo of 1.5020-1.2796) followed by 1.3535 (high Jun.29) and finally 1.3595 (20-day sma). On the flip side, the immediate support appears at 1.2851 (low Jul.11) ahead of 1.2797 (20916 low Jul.6).