The cable is still trading higher, hitting a new month's high at 1.6464 dollars per pound. The main reason behind these hikes is not the sterling's strength, but the dollar's weakness in all its pairs. After offering us a fantastic rally of 600 pips, the pair has a new target at 1.6500. According to the bands of Bollinger, the pair has a 120 pips volatility in the hour, while the RSI is on neutral ground. If the pair gets closer to 1.6500, pay attention to a possible correction to 1.6415, 20-days MA.
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