Pushes above last week's high and the earlier high for the day
As London/European traders look to exit for the day, the GBPUSD is trading to a new session high (and highest level since February 2nd).
The high from earlier in the day at 1 4234 and the high from last week at 1 4215 are now close risk levels for longs. Stay above is more bullish.
The next target on the hourly chart comes in at 1.4264. That is the topside trend line connecting the March 6 and the March 22 swing highs (see chart above). The lower trend line on the hourly chart cuts across at 1.4182.
Looking at the daily chart below, the price is running away from the February 16th high at 1.4145. Last week, the price moved above that high on Thursday and Friday, but rotated back lower. The swing highs from 2018 (and highest levels since Brexit) come in at 1.4277 (February 1 high) and 1.4344 (high from January 25th).
