Stay above the 1.3700 to 1.37088 area keeps the buyers break in play

The GBPUSD trended higher into the him him him European/London trading session. That moved to the upside took the price above a key swing area between 1.3700 and 1.37088. 

Recall from yesterday, the price did extend above that level, but quickly reversed all the way down to the 100 hour moving average where buyers came in to stall the fall.  Getting back above the swing area keeps the buyers in control as the gains today are consolidated.  

It is simple…. Stay above the yellow area is more bullish. Move back below and the buyers are disappointed in the break.  

Taking a broader look at the daily chart, the pair is trading at the highest level since end of April early May 2018. If the buyers can keep control, the next upside target off the daily chart comes in at 1.3828 which is the topside trend line on the daily chart below. 

GBPUSD on the daily chart



Source link