GBPUSD is making new day highs, and is one of the better performers today. The pair is up 37 pips on the day, and is outperforming against the EUR, CHF and JPY. The move above the earlier day high at the 1.5534, should now find buyers against the level with stops below the 1.5524 level. The next target to breach is the low from July 17 at the 1.5553 level. The 38.2% of the move down from the July 19 high comes in at the 1.5580 level. The 200 hour MA is at 1.5584. This would be the level to get through if the move higher is to continue.
For a day which has very little to shout about, perhaps if you are to give a “shout out” (I can’t shout too loud), the GBPUSD deserves it. Stay above 1.5524/34.
