GBPUSD Cable hits 5-week high on break above 1.3200 barrier

Cable broke above 1.3200 barrier in extended bullish acceleration, returning to the levels last visited in early August.
The pair is driven by strong bullish sentiment, with thick daily cloud, above which the price emerged yesterday, underpinning the action.
Extended wave C from 1.2852 met target at 1.3224 (FE 176.4%) and showing scope for final push towards key barriers at 1.3268 (03 Aug peak) and 1.3273 (Fee 200%).

Strongly overbought slow stochastic on daily chart and RSI at the border of overbought territory suggest corrective action ahead, but without firmer signals so far.
Daily cloud top at 1.3086 is key near-term support.

Res: 1.3224; 1.3268; 1.3300; 1.3346
Sup: 1.3200; 1.3151; 1.3100; 1.3086