Squeeze higher in the GBP today
As Londons/European traders look to exit, the snap shot of the major pairs is showing the GBP is running away to the upside, outpacing all the other major currencies.
The GBPUSD has moved 0.92% currently and in the process shot above its 200 day MA at 1.3005 with out much of a fight. The pair did find some sellers at the 61.8% of the move down from the January high at 1.30465.
The EURGBP is also on the move (down -0.73%) at 0.8685. Last week, the price was looking to test the 100 day MA (currently at 0.8846).
The ranges and changes are showing the trend moves in the GBP pairs. Each are near extreme levels for the day an have oversized trading ranges as well.