1.5447 is the 61.8% and 1.5482 is the 100 day MA
The GBPUSD has moved to new session highs after holding the 1.5400 level below.
The high price comes in at 1.5438. The next target at 1.5447 represents the 61.8% of the move down from the September 18 high. The 100 day MA at the 1.5482 is another upside target. The price of the GBPUSD has not traded above the 100 day MA since September 21.
Earlier today the UK employment statistics came out. Although wages were a touch weaker than expectations, the Unemployment rate dipped to lowest level since 2008. The number of people in work rose 140K. Unemployment fell by 79K. Not bad numbers. In the US today the retail sales and PPI were lower than expectations and this is contributing to the GBPUSDs gains.
