GBP/USD capped by sellers near 1.3400, and price action is hugging the 100 and 200-hour moving averages
The hourly chart tells you a very good story of GBP/USD trading over the last two days. Sellers are holding firm near the 61.8 retracement from the 14-15 Dec downward swing, at 1.3403.
Meanwhile, buyers have been leaning on the 100 and 200-hour MA for some support today - but the key support level has been the 23.6 retracement level at 1.3340.
The pair is still undecided in its movement, and has been range-trading between these two levels over the last two days.
We're still yet to hear from UK PM May on the specifics of trade talks. She is to address parliament again today - so expect more hot air to be blown with very little to add to the Brexit picture for the time being. But then again, she could also surprise us so make sure to be on your toes.