GBP/USD takes a second crack at the 100 and 200-hour MA
The pair initially was rejected by the 100 and 200-hour MA levels at 1.3385 and 1.3384 respectively. The pair is now trading at 1.3387, but there's near-term resistance at the 23.6 retracement level at 1.3391 as well.
The high for today was posted earlier in the morning at 1.3394.
A break here will see the pair resume back to test yesterday's high of 1.3418. But the larger picture indicates further resistance is to come at the 1.3449 level - from the daily chart as highlighted here yesterday.
