The GBPUSD held the 100 hour after a brief move below after the NFP number and then used the level as a spring board to higher levels (see prior post by clicking here). The market then pushed through the 1.5066 level on its way to test the 1.5135 area. This was outlined as a target level on the top in the pre-employment report (CLICK HERE FOR POST). The high has extended to a high price of 1.5147 and is currently coming back a little as London and Europe square up. The next key target comes in at the 1.5165 level which is the 200 hour MA level. The price has remained below this MA level since Feb 7th when it broke at the 1.5660 level. I would expect profit takers against this level on the first test at least.
