Staying above the 1.3700-1.37088 area allows buyers to stay in play
The GBPUSD had an uptrend in the European / London trading session itself. This upward movement took the price above a key tipping area between 1.3700 and 1.37088.
Remember yesterday the price broke through this level but quickly reversed until the 100 hour moving average when the buyers came to curb the fall. Coming back above the swing zone allows buyers to stay in control as today’s gains are consolidated.
It’s simple …. Staying above the yellow zone is more optimistic. Check back below and buyers are disappointed with the break.
Looking at the daily chart more broadly, the pair is trading at the highest level since late April to early May 2018. If buyers can stay in control, the next bullish target on the daily chart is at 1.3828, which is the upward trend line. on the daily chart below.
