Extend to the 200 hour MA/50% retracement targets
The GBPUSD has extended to new session highs and tests the 50% of the trend move down from the June 22 high and the 200 hour MA. Those levels come in at the 1.5778 and 1.5781 levels respectively.
Meanwhile over in the EURUSD land, stops were triggered above the 1.1165 level. and the pair is trading at new session highs (high reached 1.11907). The shorts are getting squeezed as London/European traders exit. The next target for the pair at the 1.1210 area where the topside trend line is found.
