GBPUSD makes a break to new session highs


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Breaks the 50% retracement

The GBPUSD has made a break to new session highs. Technically, earlier in the NY session, the pair found buyers near the 100 day MA (and above the 200 hour MA — green line).  IN the current bar, the price moved above the 50% of last weeks range (and the high for the day).  
The 50% is now close risk.  More conservative risk remains at the MAs below (100 and 200 hour and 100 day MA at 1.3140-56)). Stay above that area, and the bulls are still in control.  
The next target comes in at the 61.8% at 1.32047. The 1.32143 was the swing high from last Wednesday and is another target on more upside momentum. 
ForexLive
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