GBPUSD breaks the next target and moves above 1.4000

Another 19th month high

The GBPUSD price has now cracked above the 1.4000 level and is also moved above the 1.4004 and 1.4011 swing lows from April and June 2017. The price moved to 1.40168. Traders will now see if the key natural level at 1.4000 will hold.

The run higher in the GBPUSD has run against expectations that the UK Brexit issues would put a lid on the pair. That has not been the case. In the new year, the low stalled at 1.3456. That was close to the lowest of the post-Brexit swing highs from 2016 (see yellow area on the daily chart above). The pair has been trending higher since basing there.

The price trades to 1.40229.

Where to? The topside trend line on the hourly chart comes in at 1.4025. A move above is a move into more open road for the pair.