Reaches for the 38.2% at 1.20926
The GBPUSD has extended to a new session high as the dollar continues to find sellers. The high price has reached 1.20865. The next target comes in at the 38.2% of the moved down from the March 9 high. That level comes in at 1.20926. A move above, would target the 1.21287 topside trend line, and the swing high from March 18.
The GBPUSD is not alone in reaching a new extreme vs the USD (low dollar). In the current hourly bar, the EUR, CHF, CAD, NZD, and AUD have reached to new extremes (low dollar). The USDJPY remains above its lows but only by a few pips.