The GBPUSD has moved up to a high of 1.2766. Echo within four pips of the height from Friday’s trade and the high going back to December 29. Both of those peaks came in near 1.2770/71. It will take a move above each to give the buyers another target reached.
So far, however, the pair has been able to hold resistance. The current price is back down near 1.2755. There is support at a swing area between 1.2721 to 1.2735.
This article was written by Greg Michalowski at www.forexlive.com. Source