GBPUSD TARGETING 1.3000
The bullish trading sentiment surrounding sterling remains intact, as the pair continues to holds above key technical support. Any pullbacks in GBPUSD has been seen as buying opportunity for further upside attempts towards 1.3000.
During the European session, traders focus will turn to two key technical areas, with the GBPUSD traders looking to the weekly pivot point, at 1.2925, and a possible break above the recent swing price high at 1.2983.
The GBPUSD pair remains bullish on all time frames, with price continuing to climb higher, and trade further away from the daily pivot point.
Key support is found at 1.2935, the H1 time frame 100 period moving average, at 1.2910. Critical intraday support is also found at the 1.2870 level.
Key GBPUSD resistance is found at Thursday's price high, at 1.2955, the former swing high on July 6th, at 1.2983 and the psychological 1.3000 level.