GBPUSD TRADING TOWARDS 200 PERIOD MOVING AVERAGE

The GBPUSD pair is trading marginally higher in the European session, with the H1 time frame 200 period moving average the next major hurdle for the pair, at 1.2799.

In the U.S session, Michigan survey data from the United States may provide the next short-term directional move in GBPUSD, however upcoming Brexit negotiations, set to start on Monday, remain firmly in British pound traders minds.

The current daily high for GBPUSD comes in at 1.2785, with the dynamic of three lower daily trading high's currently in play, with the Thursday high set at 1.2795.

Technically the pair remains bullish, with buyers in control above 1.2730, the H1 time frame 200 period moving average at 1.2799 remains a major upside hurdle for GBPUSD, with the 1.2830-40 region offering strong intraday support above.

To the downside, a loss of 1.2726-30 should provoke GBPUSD selling, with the pair then targeting 1.2710 and 1.2685.