Trades unchanged
The GBPUSD spiked higher to 1.5145, then tumbled and fell back toward unchanged on the day.
The pair was been pushed around a bit by the EURGBP which has moved away from the 100 and 200 hour MA today (see chart below). The EURUSD is leading the charge lower.
At the highs today, the GBPUSD price also got close to the swing low from September 4th at 1.5156 (see yellow area). The yellow area in the daily chart below between 15156 and 1.5188 are where there are a number of swing lows going back to May. If sellers are to remain in charge and the downside explored (the next target comes in at 1.5000 area -see chart below), this area starting at 1.5156, should should keep a lid on the pair.
Admittedly, the GBPUSD has a better bid to it. Looking at the hourly chart, the pair's lows today found support buyers at the underside of the broken trend line. Also the EURGBP influence gives an underlying bid. So be on the lookout for buyers low and sellers high for the time being.
