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GBPUSD moves closer to high next high target

The GBPUSD has reached the high today of 1.2652. The current price is trading at 1.2642. At the high, the price got closer to its swing high going back to May 8, 2022 near 1.2665. A move above that level would have traders targeting this 61.8% retracement at 1.27605. On the downside, traders will be watching the low of the swing area near 1.25987 as close support.Buyers are making a play into resistance. You have to go through resistance to get extend higher, but it may also slow the rally or... Read More

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Forex

Posted: May 5 2023, 19:22

Author Name: forexlive

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