GBPUSD moves back down to test the Dec 5 high
The GBPUSD is moving to a new post-CPI low and in the process is moving closer to the December 5 high at 1.23435. The price just reached 1.23487. A move back below the old high would put more of a sour taste in the mouths of the longs today. If the 'break higher" does not hold, more buyers could switch to sellers.
Key intraday level near 1.23435. We will see if the buyers come in and hold the level.