The GBPUSD as seen the price move higher than lower and now back higher again. In the process the price has traded above and below its closing level from Friday at 1.3050. The price currently trades at 1.3065.
Technically, the pair has just tested its 200 hour moving average at 1.30752. Earlier today the price trade above and below that level but at that moving average currently also said today downward sloping trendline. That increases the levels of importance. A move above would then look toward its 100 hour moving average at 1.30968. For now, sellers are leaning against the area.
On the downside today, the low price did stall against an upward sloping trendline connecting the lows from last week from Tuesday and Friday. That level currently comes in at 1.30174. Below that is a swing area at 1.3003 to 1.3012. Below that is the swing low from Tuesday at 1.29802. Those are the next downward targets
Lots of ups and downs today in the GBPUSD, but technical levels are also in play in helping to define the range.