The GBPUSD is trading in it's own up and down trading range today. Along the way, the highs have been lower (Asian high is higher than the London/NY highs), and the lows have been higher as well (see upward and downward trend lines).
The pair is awaiting a shove outside the trend lines on the hourly and the recent swing lows and highs at 1.2484 above and 1.2316 below.
The price action says 'the market' is unsure of the next move. Traders need more clarity. At some point, that clarity will manifest itself with a move higher or lower. For now, the buyers and sellers are simply battling it out.
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