GBPUSD moves to test – and now break – earlier session highs
The GBPUSD is moving higher in is currently testing – now breaking – the session highs at 1.24248.
The pair has seen up and down action after an earlier surge higher in the Asian session. Since then, the price has waffled between 1.2373 below and the high area between 1.24139-247. That higher area is now being broken.
Taking a broader look at the daily chart, the next major target comes in at the 1.2461 level. That is home to the 50% retracement of the move down from the December 2019 high to the March 2020 low. A move above that on the daily chart will open the door for a potential run up toward the 100 day moving average at 1.25730.