GBPUSD extends to new highs and toward upside targets ...Middle East

The move above the 100 bar moving average gave the buyers a go-ahead to push toward the swing area between 1.2970 and 1.2988. The high of that swing area is being tested currently. Break above and the 1.30139 level would be the next key target.

Key technical levels now:

Support: 1.29608 (low of swing area). 1.29247 (100 bar moving average on the 4-hour chart). 1.28733 (200 bar moving average on the 4-hour chart). 1.28148 (200 day moving average)

Bias: Bullish above 1.2924, targeting 1.3014;

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

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