GBPUSD extends to the topside target area and above the 50% midpoint. Buyers in control ...Middle East

The rally took the price up to test the Asian session high and the 50% retracement of the decline from the December high at 1.24532. A break above that level triggered further momentum, sending the pair into the key swing area between 1.24739 and 1.2500.

Bullish Breakout: A sustained move above 1.2500 would strengthen the bullish bias and encourage further upside exploration.Bearish Reversal: Sellers looking to fade the move may find 1.2500 a low-risk entry point, with stops on a confirmed break above. For downside momentum to build, the pair would need to fall back below the 50% retracement at 1.2453.

The battle between buyers and sellers is now focused around this key resistance zone, with the next move likely to dictate near-term direction.

This article was written by Greg Michalowski at www.forexlive.com.

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