It’s been 10 years since the financial crisis. Since then, we’ve seen Brexit, and watched as across the Atlantic Donald Trump was elected to the White House.

But who would have thought, just 12 months after coming into office, that UK Banks would be flying at multi-year highs, some their highest levels since the dark days of 2008?

That’s the reality facing a number of the UK’s largest banks as we head into the key reporting session. However, why wait until mid-February to look further into the key sector to the UK economy, when right now notable break outs are being enjoyed.

Kicking off the brigade of breakouts is Lloyds. The investor favourite has had a strong end to the week, breaking out from seven month intersecting resistance to trade above 70p for the first time since June 2017 and the UK’s snap election; 73.5p highs are next on the radar for the owner of the UK’s biggest mortgage book.

Perhaps the most notable rally has come from the Royal Bank of Scotland. The only bank with shares still held by the UK treasury has seen a sustained share price recovery since touching its lowest ever level following the Brexit referendum. Trading back above 300p for the first time since December 2015, shares are now challenging the ceiling of its rising channel at 305p having overcome 295p resistance. Could another breakout lead to further gains?

And the award for the first UK bank to return to its highest level since 2008 goes to HSBC, as the largest of Britain’s financial institutions enjoys a breakout from 775p resistance dating back to 2009. Shares now have just 100p, or 13% to go until reaching 2006’s all time highs of 896p.

The only blemish on the record for bulls – however of potential interest to bears – is Barclays (BARC). Having traded 12-month lows of 177p back in November, its shares enjoyed a nice recovery to highs of 2015p.

However, they have been unable to overcome falling highs resistance at 205p, and have turned back below 200p, breaking below key support.

Barclays aside, the sector looks well-placed heading into February’s results season. And with US peers already well into reporting (note we have Bank of America, Citigroup and Goldman Sachs next week), why wait to get involved?

Our research team are going to be in crunching the numbers, delivering the important figures for the US banks and how they could affect their UK cousins. Do you want to get access to their award-winning service?

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Mark Crouch, Trader, 12 January 2018