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GBP/USD back for another look at 1.28 this morning
As covered here yesterday, the GBP/USD stalled a couple of times just shy of 1.2825 and once it took out the prior intraday low at 1.2796 it fell further. The modest downside momentum through that level delivered a move towards 1.2775. The Pound later closed in the US at 1.2786. So far today it has been pressing a little higher and just now printed a trade above 1.2800. The clearly defined interim range would seem to have the price action circled by 1.2775 and 1.2825. That is pretty clear to see right now and of course higher up, we still have the 200 week moving average (1.2848) guarding any further gains for the time being. The Pound is currently trading at 1.2800
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