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.

EURGBP continues to keep the EURUSD down and the GBPUSD high, but the 50%, lower trend line and 100 hour MA are being tested.