Tests 38.2% retracement target
The GBPUSD has raced higher, making new session highs and trades at the highest level since Feb 4th. The pair is also testing the next target at the 1.46339 level. This is the 38.2% retracement of the move down from the June 18, 2015 high. The high price has reached 1.4635 so far. Remember yesterday, the pair moved above – and closed above – the 100 day MA for the first time since September 18th ().