• July 2020 last 10-day uninterrupted GBP/USD bull run

• Thin Monday market saw GBP rally to 1.3421: September 2024 last time higher

• Early Tuesday and the run extended to 1.3422

• Overbought readings on both daily and weekly charts

• Weeklies showing a three-week acceleration in the bull trend

• Market has not been this overbought since September

• Early June cloud twist in the 1.2860-65 area could begin to drag on GBP

• Correction risk but wary of stepping in front of this train just yet
GBP/USD daily candle chart:


GBP/USD weekly candle chart:

(Peter Stoneham is a Reuters market analyst. The views expressed are his own)