GBPUSD trades to NY session highs as the European session heads to close.

Some shorts covering, but already backs off.

The GBPUSD just moved to a new NY session high and in the process moved above the 100 bar MA on the 5 minute chart and the 38.2% retracement.

The price has already backed off from that high (and is back below the 100 bar MA). The lower trend line on the 5-minute chart comes in at 1.2934. A topside trend line comes in at 1.29567 (both are moving higher). Look for the lower trend line to provide some support now. If not, it is more trouble for the bulls/buyers.