The price test converge trendlines
The GBPUSD has spike higher on headline news that the EU is ready to consider time limit on Irish Brexit backstop.
The move higher has taken the price above the 200 bar moving average on the 4 hour chart at 1.2288, the 100 hour moving average at 1.23124 but stalled at two trend lines that are converged at 1.2337.
The price is already moving back lower with the price below the 100 hour MA at 1.23134. The 100 bar MA on the 4-hour is at 1.22887. Can that hold?