Moves above 61.8% of the week’s trading rangeThe GBPUSD is pushing higher and in the process is cracking (without much problem too) the 50% retracement of the week’s trading range at 1.38536, AND the 100 hour MA at 1.38586. Bullish.
The price also just moved above the 61.8% at 1.38715.
Topside trend line on the hourly comes in at 1.3895. Swing highs from yesterday at 1.3898 (just below 1.3900) and the high for the day at 1.3909 are targets on more momentum higher.
Buyers are pushing. Risk for longs will be back at the 50% and the 100 hour MA at 1.3853-58. Stay above is more bullish.