GBPUSD moves to a new high. Extends toward resistance target near 1.2100.

The GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term has pushed higher and trades above a key swing area near 1.2064 and now looks toward the 1.2100 level. The 200 hour MA looms above 1.21216 if the 1.21000 level can be broken. Sellers have the 1.2100 level to lean against with a stop on a break above.

Close support now comes in at 1.2064 area for buyers. That level corresponds with prior swing lows going back to the end of July.

Earlier today, the low for the day did find support buyers near the low for August at 1.2002. The low today reached 1.2006 ahead of the August low and the natural support at 1.2000.

There has been some positive buying off support, but if the buyers are to take more control, they will ultimately need to extend above the 200 and 100 hour MAs above (green and blue lines).