Climbs above topside trend line
The GBPUSD is trading to a new session high and in the process took the price above a topside trend line at 1.30608. That channel trend line was broken earlier in the day, but failed on the break after reaching 1.30716. This is the 2nd look.
The trend higher continues The corrective low in the NY session stalled above the high from yesterday at 1.3012. The low reached 1.30196 before reversing higher.
Buyers are in control The pair is up for the 9th day today. Trends are fast directional and tend to go farther than most expect. The pair keeps marching on.
Reprinted from forexlive, the copyright all reserved by the original author.
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