GBPUSD moves up toward swing area and other topside targets including the 100 hour MA

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 is trading to a new session high and in the process is testing the swing low from May 13 at 1.2154. There is another low from May 12 at 1.2173 Get above each of those levels and traders will next target the the 38.2% at 1.21874 and the 100 hour MA at 1.22174.

Those levels line up nicely for the buyers in succession and will give buyers confirming clues if broken. It could also act as resistance. So be aware.

On the downside, watch the 1.20729 level as support. That is the swing low going back to May 2020. If you are a buyer, you would not want to see, the price move back below that level now.

FYI.....The price moved below the 100 hour MA last Thursday and that led to a 5 day decline and 666 pips lower. Can the buyers now take the price higher and reach topside targets including that 100 hour MA?