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GBP/USD Prints New 12-Month High

GBP/USD Prints New 12-Month High

Thomas Long, Course Instructor

The GBP/USD moved up through the 1.6300 level earlier in today's session which does represent a new 12-month high. That print along with the series of higher lows and higher highs means an uptrend and to look for buying opportunities. While the GBP economic calendar is light for the week, the US is releasing the Nonfarm Payrolls this Friday morning, so any upside momentum may subside as we close in on that event. However, I would still look for buying opportunities as long as the pair remains above the 1.59618 low noted on the chart.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.