GBPUSD...New session highs too

Looks toward 50% of the move down from December

The GBPUSD is on its own run higher - and trades at new session highs. The pair has a 250 pip trading range and tests the swing low from March 2015. Earlier the pair moved back above the low from April 2015 at the 1.4565. That is now a support level.

Another key target above is the 50% retracement of the move down from the December high to the January low. That level comes in at 1.46582

The 5 minute chart has a topside channel resistance line at 1.4665 currently and moving higher. The lower channel support comes in at 1.4590 currently (and moving higher as well).