What are the technicals telling us in the GBPUSD now?
Price backs off after test
The price has moved back down to 1.2117 - 7 pips from the 100 hour MA at 1.21108. That MA is now support as the market shifts on the news. It will still take a move above the 1.21749 to 1.21901 level to get more upside momentum going, but intraday, the news is helping the pair.