GBPUSD continues on its way up - what comes next

The move higher from yesterday came after an interview with Junckler, and that was enough to give buyers the strength they needed for the breakthrough they needed all week.

The price broke the persistent 100 periodic and 38.2% Fibo around 1.2500, the last zone not being drilled since May.

That says a lot about sentiment, even from a technical standpoint. In general, sellers are no longer in control and even short-term cash flows are on the buyer's side.

Currently, the price is trading near the peak of the session, around 1.257, as the pound continues to extend its profits during the European session. So what's next?

Looking at the chart, buyers will be aiming for 50% Fibo at 1.2670, followed by the 200 period at 1.2738. These will be the key next levels to monitor.

Going back to the foundation, were Junckler's comments any different than what we had heard before?

"I asked the Prime Minister the other day to come up with specific proposals regarding so-called alternative arrangements that would allow us and the UK to achieve the main goals of the backstop. I'm not in love with backstage. If the results are available, I'm not interested. If the goals are achieved - all of them - then we do not need it. It was a guarantee, not an end in itself. "

There is a lot of optimism about the pound right now, but has anything in the interview with the commissioner changed? No.

But as I always say, a trader should never argue with the technical picture. At the moment, this is not the right level to look for a peak and turn the price after the break from yesterday. It will be interesting to see how long this increase can continue ..

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