GBPUSD trades to new session highs and looks toward November highs

Technical Analysis

Author: Greg Michalowski | gbpusd

Swing area at 1.33795 to 1.3384 followed by the highs for the month at 1.33969

The GBPUSD is trading to new session highs and in the process, have moved up to test a swing area at 1.33795 to 1.3384. That is ahead of the highs for the month not far from that area at 1.33969. Both areas are resistance areas. The high price just reached 1.33828 and quickly backed off as I typed. The price is currently trading at 1.3368.

Swing area at 1.33795 to 1.3384 followed by the highs for the month at 1.33969
Looking at the daily chart below, the high price for 2020 came in at 1.34816 on September 1. The next highs price came in at 1.3401 from September 2. Those levels are the next target levels on the daily chart should the November highs be taken out. Getting above each of those levels would be more bullish and have traders looking toward the December 2019 high price of 1.35139.

GBPUSD on the hourly chart


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