100 and 200 bar MA on the 4 hour chart is being approached
The GBPUSD is extending to new day highs and tests the 100 and 200 bar MA on the 4 hour chart at the 1.5572-81 area.
Also in the area is the 200 hour MA at 1.5575. So there are a combination of levels in this area that defines and limits risk for traders
Fed's Lockhart speaks at the Atlanta Press Club at 12:25 PM ET. His comments last week took the market by surprise and led to a move higher in the dollar. Going into his comments the dollar is under more pressure.