Bulls accelerate to 4 1/2 month high and eye psychological 1.30 barrier

Cable accelerated higher on Monday (up 0.75% for the day until now), inflated by collapsing dollar and hitting highest levels in 4 ½ months.
Bulls surged through 1.2813 (former high of 10 June and pressure next pivot at 1.2905 (200WMA) break of which would unlock psychological 1.30 barrier and 1.3017 (Fibo 76.4% of 1.3514/1.1410 fall).
Bullish sentiment remains strong and helped by rising positive momentum and daily MA’s in full bullish configuration that keeps focus at the upside.
Overbought daily RSI and stochastic give initial warning of corrective action but indicators continue to head north and lacking any firmer signal for now.

Res: 1.2905; 1.2950; 1.3000; 1.3017
Sup: 1.2841; 1.2813; 1.2778; 1.2717