Midpoint and trend lines at the 1.3119-25 area
The GBPUSD continues its run higher with the pair looking/well now testing the 50% retracement of the move down from the 2019 high. That comes in at 1.3122. Swing levels and the high from April 12 (at 1.3132) are also in the area..
We just traded to 1.3122 – right at the midpoint level.
The GBPUSD is the biggest mover of the majors today. It has a 140 pip trading range. The pair moved lower on the NFP release but held the 100 day mA at 1.2980 and shot higher (see earlier post).