Carney agrees to stay for an additional year.
The GBPUSD is moving higher as BOE Carney agrees to say for an additional year.
The price has extended to the 100 bar MA on the 4-hour chart. That comes in at 1.2239 currently (see blue step line in the chart above). The support will now be eyed at the 200 hour MA at 1.2213. The price of the GBPUSD has traded above and below that level since racing higher at the 4 PM London fix. The low reached 1.2200 during that time - a nice round number to base.
On the break higher off the 4 PM fixing), the price moved above the 100 hour MA (blue line in the chart above) and trend line resistance. Each helped to turn the technical picture around.
Other targets above include the 1.2242-487. This was where swing highs from last week were centered. That ceiling (yellow area in the chart above) was broken on Thursday on two separate occasions, but each failed.
