Ceiling area at 1.2663 to 1.2668
The GBPUSD is stepping higher today.
In the Asian session, the price based against the 200 hour moving average (green line) and moved up to the 100 hour MA and swing area at 1.2591 to 1.25998.
The price moved above that area and based against the 100 hour moving average (currently at 1.25934) and stepped to new highs at 1.2643.
The next step for the pair would look toward the ceiling area between 1.2663 at 1.26688. Highs from Thursday, Friday and again on Monday stalled in that area. Needless to say getting and staying above that level would be key for buyers.
Looking at the daily chart, the 200 day moving average currently at 1.2691, and a downward sloping trendline at 1.27103, are other key resistance targets for buyers. In June the price moved above the swing area but fell short of the downward sloping trend line. That trend line now sits in the swing area and just above the 200 day MA.