GBP/USD Price Analysis: Looks to rising wedge hurdle at 1.3591 ahead of BOE

• GBP/USD remains poised for further upside amid Brexit deal hopes.
• Cable eyes rising wedge hurdle at 1.3591 amid bullish crossover.
• All eyes on Brexit headlines and BOE decision for fresh directives.

GBP/USD is looking for another push higher, with the 1.3600 threshold in sight amid a likelihood of a Brexit deal closer.

The GBP bulls also remain hopeful that the BOE would refrain from talking about negative rates at its policy decision due to be announced later in the European session.

Meanwhile, broad-based US dollar weakness on dovish Fed and stimulus hopes, exerts additional upside pressure on the cable.

From a near-term technical perspective, GBP/USD is on a gradual recovery from NY session lows, wavering within a week-old rising channel spotted on the hourly sticks.

The spot has managed to recapture the 21-hourly moving average at 1.3516, making headways towards the rising wedge hurdle at 1.3591.

The Relative Strength Index (RSI) holds firmer just below the overbought territory, near 65.95, suggesting more scope for extra gains.

The 100-HMA and 200-HMA bullish crossover also adds credence to a potential rise towards 1.3600.

The further upside, however, appears elusive, as the bulls await the BOE decision for the next push higher.

On the flip side, the abovementioned 21-HMA could offer immediate support. The next relevant cushion is seen at the upward-sloping 50-HMA at 1.3475.

GBP/USD: Hourly chart

GBP/USD: Additional levels