GBPUSD BUYERS BACK IN CONTROL

The GBPUSD pair has moved to a two-day trading high, at 1.2983, as the British pound received a strong bid, whilst the U.S dollar index came under selling pressure during the European session.

Sterling buyers are in control of the pair above the H1 time frame 100 period moving average, at 1.2952. In the coming U.S session, traders look to the release of the ADP jobs report and U.S manufacturing data, with FED members Stanley Fischer and Jerome Powell also speaking.

The GBPUSD pair is bullish on all time frames, with short and medium-term indicators moving averages pointing to further intraday gains.

Technical resistance for the pair is found at 1.3007, and the June 30th swing price high at 1.3030.

To the downside, the H1 100 period moving average offers nearby support at 1.2952, with the daily pivot point found just below at 1.2932.