The GBPUSD has pushed to new highs in the last hour of trading for the day and for the month. The move above the Feb 29th high of 1.5990 should open the door for further upside potential as the pair has been in an up and down trading range since January 26th (see chart above) and this is the first move above the high over that period. However, the move might still be tempered by the key 200 week moving average which is not far away at the 1.6009 level this week (see chart below).
