GBPUSD is in the swing zone and pushed to the upside….
GBPUSD extended to a new high for the day and in the process pushes back to the top from June 22nd at 1.28349 (break above that level now). The next target is the high from June 16 at 1.28478. Move above there and GBPUSD is trading at a new high dating back to April 2022.
The pair rose higher after the US jobs data and then regained its gains, retreating to the swing zone between 1.2738 and 1.2759. Corrective price lower reached 1.27509 within that area and found buyers focused on risk. The price started to rise.
Looking at the daily chart, there is not much resistance until 1.2971 to 1.29987. This level represents the scammers going back to March 2022 and for the first half of April 2022. On April 22, 2022, the price broke through the low of this level and went in a downward trend.
GBPUSD is testing its highest levels in June 2023.
