GBP/USD moves to session tops near 1.3170

After bottoming out in the 1.3100 neighbourhood earlier in the session, GBP/USD has now advanced to the area of daily highs in the boundaries of 1.3170.

GBP/USD up on Brexit headlines

Cable met fresh buyers near the 1.3100 handle after UK’s PM Theresa May advocated for a common effort between EU and UK officials in order to make any progress in the Brexit negotiations.

In addition, the sharp drop in EUR/GBP below the 0.9000 key support is also another source of buying pressure around the pair.

In the data space, UK’s public sector net borrowing came in at £5.33 billion for the month of September, bettering consensus albeit higher than  August’s £4.14 billion.

GBP/USD levels to consider

As of writing the pair is gaining 0.07% at 1.3167 and a breakout of 1.3228 (high Oct.19) would open the door to 1.3289 (21-day sma) and finally 1.3338 (high Oct.16). On the other hand, the next support emerges at 1.3134 (low Oct.19) seconded by 1.3121 (low Oct.12) and then 1.3045 (100-day sma).