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Forex technical analysis: GBPUSD trades new session highs

Discussion in 'Technical Analysis' started by ForexLive, Dec 11, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Moves above 1.5200. Dollar moving lower. As the US stock market works toward the opening, the dollar has turned to the downside. The GBPUSD is making new session highs and is breaking above the 1.5200 level (now close support for longs). Yesterday the high peaked at 1.5201 before the BOE decision, fell on the news but quickly rebounded - ending down on the day but in the middle of the trading range. Looking at the hourly chart, next target comes in at 1.5232. This is the topside trendline connecting recent highs.

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