GBP/USD hit a high of 1.3387, but upside move stalls at the 50.0 retracement level
The pair comfortably broke through the 100 and 200-hour MA, but is now facing more sellers near the 50.0 retracement level at 1.3384.
It's been a quiet day for cable as the trading range is only a mere 36 pips today after the move here. Earlier, it was stuck in a 28 pips range - so this isn't much of a jump either.
Looking further up, there's more resistance near the 1.3400 level as well as yesterday and 18 Dec's high around the 1.3420 level. Rally sellers lurk nearby, so buyers are as well being cautious it seems.
It's still a rangy time for the GBP/USD, but good two-way pips to be had still.
