GBPUSD holds onto gains (buyers against support), but topside resistance stalling the gains.
The GBPUSD 100+ pip move higher at the beginning of the NY session surprised and seemed to be helped by a void in liquidity. When that happens you want to see the buyers enter on the dip. I look for the 38.2-50% of the move higher to hold support. The thinking is, traders should like buying after a trend-like move at 38.2% -50% off (or there abouts). If it goes below 50%, they don’t really love it ().