The GBPUSD is trading up and down today, but the move to the upside today stalled near the 100/200 hour MAs near 1.2154 area. Recall, that area stalled the rally on Wednesday as well.
The subsequent fall, in the US afternoon session, has taken the price back toward the swing area near 1.2105 and 1.21109. Earlier today, that area stalled the fall on 2 separate occasions.
In this video, I outline the above levels along with what needs to be done to increase the bearish bias (with downside targets) or what would shift the bias back to the upside.
This article was written by Greg Michalowski at www.forexlive.com. Source