Above a minor swing area between 1.3276 and 1.32814
The GBPUSD is wondering back to the upside in the process has moved above a minor swing area between 1.32768 and 1.32814. The high for the day reached in the European morning session reached 1.32967 - just short of the 1.3300 natural level. Above that, the high from last week's trading at 1.33094 would be targeted followed by a topside channel trendline at 1.3323.
The market price wandering, a move back below the swing area may lead to intraday disappointment in not being able to extend to a new session high nor chase the high from last week. Be aware for intraday traders giving up quickly.
Taking a broader look at the daily chart, the good news is that the price is now above a swing area between 1.3266 and 1.3283. Needless to say, the run to the upside last week did extend above that area as well only to fail. Nevertheless, being back above is a positive from a technical perspective on the daily chart.
