The USD experienced selling pressure today while the GBPUSD oscillated up and down in a fairly tight range during the first half of the U.K. session.
A long entry was taken after the pair made a third higher low and began to move higher in the U.S. session overlap. Price climbed higher taking out its high of the day and continued up to our daily target at 1.3908 and did not retest the 1.3900 figure. Our next target was a significant barrier from the hourly chart today at 1.3921 where price penetrated but could not close above.
Further upside targets would be 1.3932, 1.4018, 1.4048, 1.4063, 1.4089 and 1.4107 areas.
Downside moves could test 1.3775, 1.3760, 1.3739, and 1.3718 areas.
Good luck with your trading!
