GBPUSD trades near session high in down and up session

Technical Analysis

Author: Greg Michalowski | gbpusd

Tests the swing low from last week

The GBPUSD has had an down and up session today. 

Tests the swing low from last week

The low today did take out the low from yesterday (and swing low from Dec 26) at 1.29596, but only by a few pips (to 1.29537).  The move higher has seen the price stall twice at the swing low from last week at 1.30122.  Getting above that level should lead to more upside probiing for the pair.  The falling 100 hour MA at 1.30427 is the next upside target.  
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