Just a tough level
The GBPUSD – like the EURUSD – has moved up to an upside target arae defined by technical tools. For this pair, the 100 hour MA, the 100 bar MA on the 4 hour chart, the 50% and the 200 hour MA (green line) all clustered around the 1.2465-77 area. The high stalled at 1.2478.