GBPUSD BACK ABOVE 1.3200
The GBPUSD pair has moved back above the 1.3200 level, after a minor correction to the 1.3168 support level, during the early European trading session.
Price-action continues to remain extremely bullish, with the pair increasingly likely to target the current monthly and yearly price highs, at 1.3224 and 1.3268.
The GBPUSD pair is now starting to test the 1.3220 level, which is a key Fibonacci level, and represents the 50 percent retracement of the Brexit spike high at 1.5017, to the 2016 trading low, located at 1.1434.
Above the 1.3268 level, GBPUSD upside objectives remain 1.3300 and 1.3348.
The 100-week moving average and upside channel top also converge, at 1.3396.
To the downside, GBPUSD support is located at the daily pivot at 1.3180, and the current weekly low, at 1.3168.
Further support is located at the weekly pivot, at 1.3109, and the former monthly pivot, at 1.3080.