Buyers and seller battle it out
The GBPUSD has had an up and down trading day.
The high traded to the highest level since August 2nd. That high tested a topside trend line in the daily chart at 1.3084. The high price reached 1.30869. Sellers leaned.
The subsequent fall took the price down toward the rising 100 hour MA at 1.29525. The low reached 1.29605.
The 200 hour MA is lower at 1.29347. That is also near the 50% retracement of the move up from the September 5th low. A trend line on the hourly chart cuts across near the 100 hour MA.
The current price trades between those support and resistance extreme levels around the 1.3000 level. If there is a level between the two levels, it would be the 1.30275 level. That was a high from August 30/31 and again last week. The high from Friday (and the week) was at that level). Stay bellow is more bearish. Move above and 1.3042 and the earlier high for the day become the targets.