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GBP/USD towards the upper end of the recent range this morning

Yesterday an update here noted that the current range for the GBP/USD was likely to be defined inside the price points of its 50, 100 and 200 day moving averages. Well, that is what it turned out to be and the rebound from a session low at 1.2614 did stall short of resistance noted on the topside. That was in place at 1.2666 and 1.2668. The high seen was set at 1.2664. The GBP/USD later closed in the US at 1.2655. Today those moving averages on the topside have shifted slightly. The 50 day is now at 1.2665 and the 100 day is now at 1.2670. Lower down the 200 day continues to flat-line, at 1.2588. The range seen so far today has been covered by 1.2648 and 1.2662. The GBP/USD is trading right now at 1.2658

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