GBPUSD moves up to 1.2900 area. Coming back off.
The EURGBP took a turn to the downside, and in the process, sent the GBPUSD through resistance at 1.2876 (200 bar MA on 4 hour chart AND the 38.2% retracement). The GBPUSD moved quickly to 1.29000 area, but has since backed off. Traders will be eyeing the 1.2876 area as support now. A move below will make the break not look that great technically.