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How much strength is left in Cable?

GBPUSD has bounced back this week and broke through the key resistance area of 1.50 on Friday. Disappointing data in the States along with more speculation about when the Fed will raise rates there is keeping the dollar subdued. And despite uncertainty about the outcome of the UK's General Election in less than three weeks time, the British economy continues to perform well with more positive data on unemployment helping sentiment on Friday.

Saxo Bank's Head of FX Strategy, John Hardy, thinks GBPUSD could go even high over the coming days, notably if US data continues to disappoint and we don't fall below 1.50 for any length of time. Sterling has also been outperforming the euro this week, although John explains why trading this pair is more tricky.

02:18 minutes
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