While global markets cheer Joe Biden’s victory, President Trump’s lawsuits are trying hard to spoil the party. However, stimulus optimism triggered a broad USD weakness, pushing the Cable higher just below 1.32. Also favoring the upside could be Brexit optimism ahead of the key trade talks in the UK. In the meantime, a speech from the BOE Governor Andrew Bailey will also be important to watch. If the recent bullish momentum persists, then price will probably break above 1.32 heading towards 1.3260.
Support: 1.3160/ 1.3070
Resistance: 1.32/ 1.3260
