Swing levels from earlier in the calendar year
If you look at the GBPUSD chart, from mid January to Mid February, the pair has a number of swing lows and highs in the 1.4349-78 area (see 4-hour chart below). There were little failed breaks in that region, but for the most part, the area divided more bullish from more bearish (PS most of the time since Jan12 has been below the area).