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   “¢   The pair extended its strong bullish momentum and surged to an intraday high level of 1.3338 – the highest since July 2018 during the mid-European session on Wednesday.  

   “¢   The overnight break through a confluence region – comprising of 38.2% Fibo. level of the 1.4377-1.2396 downfall and a descending trend-line was seen as a key trigger for bulls.

   “¢   Meanwhile, technical indicators on hourly/daily charts are now pointing to highly overbought conditions and might act as the only factor capping any follow-through up-move.

   “¢   Hence, any subsequent move seems more likely to witness some profit-taking near 50% Fibo. level, around the 1.3385 region, given an upsurge of over 350-pips since Friday.

GBP/USD daily chart


       Today Last Price:  1.332
       Today Daily change:  64  pips
       Today Daily change %:  0.48%
       Today Daily Open:  1.3256
       Daily SMA20:  1.2995
       Daily SMA50:  1.289
       Daily SMA100:  1.288
       Daily SMA200:  1.2992
       Previous Daily High:  1.3288
       Previous Daily Low:  1.3094
       Previous Weekly High:  1.3109
       Previous Weekly Low:  1.2891
       Previous Monthly High:  1.3214
       Previous Monthly Low:  1.2438
       Daily Fibonacci 38.2%:  1.3214
       Daily Fibonacci 61.8%:  1.3168
       Daily Pivot Point S1:  1.3137
       Daily Pivot Point S2:  1.3018
       Daily Pivot Point S3:  1.2942
       Daily Pivot Point R1:  1.3331
       Daily Pivot Point R2:  1.3407
       Daily Pivot Point R3:  1.3526