Technical Analysis

GBPUSD moves back into swing area

The GBPUSD is being retested.Barometer for buyers and seller

The high price today extended up to 1.30283. That got within 22 pips of the 50% midpoint of the trading year at 1.20499. Close enough?

The GBPUSD pair has been on a run to the upside in November, moving about 880 pips from the November 4 low (7 trading days). So, it not all that surprising there was some cause for pause ahead of the 50% midpoint for the trading year.

Hold support and the buyers can make another run to the midpoint.

Break support and the pair can see a further corrective move toward 1.1717 to 1.1788 swing area.

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