Rise today stalls ahead of the low from last week
The GBPUSD was dragged higher with the USD selling today. The price moved above 1.2925 which was a swing level yesterday (was a low and then a swing high). The market started to use it as support in the early European session. The price moved above a trend line, but the run above was very limited. In fact, the price stalled ahead of the swing low from Friday. That was the end of the run higher.
The price has moved back below the swing level at 1.129526 and is trading back at the closing level from yesterday at 1.29423. Easy come. Easy go.
The GBPUSD remains under the no-Brexit fear. That should keep a lid on the pair. That is what the price action is telling me today in this pair. The price action higher was strained. The fall seems a bit easier.
The low for the day at 1.2936 and the low from yesterday at 1.2919 are targets.
