All Hail The Mighty Pound!

There’s no Black Friday in the sterling charts today as we have another look at the top in Cable.
This will be sterling’s 5th monthly green close in 6 and a close out above the 1.6380 level will have us dreaming of 1.700.

GBP/USD monthly chart 29 11 2013

Should we pop then the August 2011 highs at 1.6617 will come into focus and this is matched by the 200 mma at 1.6611.

GBP/USD monthly chart 29 11 2013