GBPUSD trades at highest level since May 25th
Takes out trend line (at 1.2933 now) and the the high from yesterday
The GBPUSD is trading at the highest level since May 25th – taking out the highs from yesterday at 1.29488. The pair moved above the trend line that stalled the rise (for a little bit at least this morning). When the line was broken on the last move higher, perhaps those shorts quickly covered.