Trend line above as well
The GBPUSD rallied into the London fixing and stalled against its 200 hour moving average at 1.24841. The downward sloping trend line was just above that moving average level.
So far, sellers have leaned against the resistance area. Stay below keeps the intraday risk focused sellers more in control.
Earlier in the London session, the price did extend above the 200 hour moving average only to him find resistance just ahead of the downward sloping trendline. The current move higher has so far done the same thing.
