Cable aiming towards 1.3400

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The dollar is keeping weaker on the day so far but pound buyers are looking poised so far in European morning trade, driving cable to a session high of 1.3380.

Daily resistance from the 1.3400 level is key before the 1 September high @ 1.3483 comes into play, should buyers keep the momentum on a break above the figure level.

Risk sits in a better spot after the AstraZeneca vaccine news earlier, with European indices now keeping around 1% gains while S&P 500 futures are up ~0.7%.

Elsewhere, EUR/USD is also at session highs around 1.1880 but the 1.1900 handle remains the elusive target for buyers over the past two weeks.

Meanwhile, AUD/USD is up to 0.7335 but there is still the short-term resistance around 0.7340 that is keeping buyers at bay for the time being.

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