TECHNICAL ANALYSIS

GBPUSD trades to new session highs and looks to November highs


Swing zone at 1.33795 to 1.3384 followed by monthly highs at 1.33969

GBPUSD is trading at new session highs and in the process has moved to test a swing area of ​​1.33795 to 1.3384. That’s ahead of the month’s highs not far from this area at 1.33969. Both areas are areas of resistance. The high price just hit 1.33828 and quickly fell back as I typed. The price is currently trading at 1.3368.

Swing zone at 1.33795 to 1.3384 followed by monthly highs at 1.33969

Looking at the daily chart below, the highest price for 2020 came in at 1.34816 on September 1. The next highest price arrived at 1.3401 from September 2. These levels are the next target levels on the daily chart if the November highs are removed. . Exceeding each of these levels would be more bullish and traders would look to the December 2019 high price of 1.35139.

GBPUSD on hourly chart

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