Extended above 200 hour moving average in the process
The GBPUSD is traded to a new session high and in the process is extending above its 200 hour moving average of 1.41539. The price has moved up to test the 50% retracement of the trading range since May 17. That comes in at 1.41609. Getting above and staying above that level would have traders looking toward 1.4200 area.