GBPUSD has traded choppily today, with an Asian session high near 1.3302 and an early European low at 1.32587—a modest 44-pip range, well below the one-month average of around 91 pips. The latest move higher has extended the day’s range to 54 pips, still leaving room for expansion.
If upside momentum holds—and buyers remain in control—the next target is yesterday’s high at 1.33308, just under the falling 200-hour moving average at 1.3334. Above that, the 100-day moving average at 1.33455 comes into play.
Technically, buyers gained confidence after today’s session lows held near the falling 100-hour moving average (blue line). That successful test acted as a bullish signal, and while intraday swings have been two-way, dip buyers have consistently stepped in to support the pair.
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