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Buyers in the GBPUSD are making a play away from the 38.2% of the May trading range

June 1, 2023 by admin 0 Comments

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The buyers in the GBPUSD are making a play to the upside from a technical perspective in trading today. The pair has been able to get above the 38.2% retracement of the May trading range at 1.24493. There was a dip after the ADP jobs report that took the price back toward that level but support buyers came in, and or forcing the price to new session highs.

The next key target comes against the 50% midpoint of that May trading range at 1.24933. Get above that level and trays with target a another swing area between 1.25367 and 1.25474 (see chart below).

For a detailed look at the pair, watch the video above. Be aware, be prepared. Watch and learn

GBPUSD buyers are making a play

This article was originally published by Forexlive.com. Read the original article here.