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GBP/USD grinds to a fresh interim high above 1.2733

The pound has battled hard since the hawkish BOE hold, but eventually the sterling bulls have managed to force the GBP/USD to a new interim high above 1.2733. That means it has surpassed the November 28 high there. Now, it is arguable; that it could now flip the drop from there that led it back to a low most recently, set yesterday at exactly 1.2500. If that is the case, then we simply add 233 pips to 1.2733 and that arrives at a projected move at 1.2966. I do not think such a projection is out of the question, BUT it will probably require further dollar weakness to achieve it. The GBP/USD has risen to a fresh interim high a short while ago, at 1.2737. It is just now at 1.2732
 

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