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Trend lines and MAs in play in this area
The GBPUSD has moved into the confines of technical levels. The last few hours has seen the price move above the 100hour MA and 200 bar MA on the 4 hour chart, and more recently above a topside trend line. However, the underside of the broken trend line from back on September 25, remains a hurdle. That trend line was tested yesterday and the price backed off.
So the pair is in a bullish/bearish jail, looking for a chance to break out.
ForexLive