Look for a close above the MA for more bullish potential
The GBPUSD is testing the 100 hour MA for the 3rd time today (blue line in the chart below). The price yesterday also tested that MA, only to fail quickly. We are currently trading above and below the level. The buyers need to take control if the move higher off the low support has stronger, bullish legs. The next upside target comes in at the 200 bar MA on the 4-hour and the 38.2% at the 1.2875 level. The high from yesterday at 1.2887 is another upside target for the pair.