GBPUSD trading back toward mid range
Midpoint of day at 1.2736
The GBPUSD has chopped highed and lower today. The price reached below the 1.2727 level but stalled ahead of the 50% at 1.27037 (low for the day reached 1.2707). We trade near mid-range at the 1.2736 level. The price is also near unchanged on the day.
The ability to hold the 50% of the last run higher, gives the buyers more control, but the 1.27418-47 needs to be broken followed by the June highs at 1.2757 and 1.27624.