A break and run
The GBPUSD popped on the back of a break of a consolidation trend line at the 1.5521 level. The pair tested, broke and took off. The move has taken the price above the high for the week at the 1.5552. This is now closesupport. The move is inspired from the break and Friday illiquidity it seems but has got traders scrambling
On the daily chart, the price has moved away from the 200 day MA (green line in the chart below). The 61.8% of the move down from the May high is also being broken now at 1.5567.
