Has the GBP/USD found a base at 1.2426?

Yesterday, as the dollar was getting whacked and the USD/JPY fell, that allowed the GBP/USD and the EUR/USD to rise. The GBP/USD hit its best level since January 7. The pound rose to 1.2523, but it could not sustain the move and fell back. On possible reason is the move stalled right on the 50 day moving average (in place now at 1.2520) The GBP/USD later closed in the US at 1.2499. The price action earlier today saw it fall, to exactly match the low seen yesterday, at 1.2426. More recently the Pound has now been edging off that low, rising back above 1.2450 just now. The earlier Asian high was set at 1.2499, exactly where it closed last night. Of course there is a risk of another attempt on the downside, below 1.2426, but there is also the prospect that the GBP/USD might set in place an interim double bottom there. That would be confirmed if it rises above 1.2523 from now on. Of course that it is still some way off right now. Nevertheless, the lines of demarcation look pretty clear right now- 100 pips inside 1.2426-1.2523 has it covered for the time being