The GBPUSD is extending to new highs and in the process is moving into the upper extreme from last week’s trading. That upper extreme comes between 1.3361 and 1.34233. Swing highs and lows from Monday and Tuesday of last week are around these levels. The high price just reached 1.33707. The current price trades at 1.3366.
Buyers are making a play. Can they keep the momentum going?
Looking at the weekly chart, the high price from 2024 came in at 1.34334. The high price from last week’s trading came in at 1.34234. So getting above that high price is also a requirement to open the door for further upside momentum.
This article was written by Greg Michalowski at www.forexlive.com.
