GBPUSD spikes to a new high. Looks toward the highs for the year. | Forexlive

The USD just took a move to the downside. ON the move, the GBPUSD spiked higher and is breaking above a swing area – and the 1.2500 level in the process. The swing area comes between 1.2495 and 1.2500. Admittedly yesterday the price also moved above that level only to quickly rotate back to the downside and head sharply lower.

As a result, traders will be watching that area for close support now. Stay above keeps the buyers in firm control.

On the topside, the hide from April 4 near 1.2525, and the high price from April 14 at 1.25462 are the next obvious targets. Those were the high prices for the trading year (going back to June 2022).