Forex technical analysis: GBPUSD moves back higher. Holds 200 hour MA.
Tests 61.8% retracement level
The GBPUSD spiked higher in the early European session (EURGBPs fall helped). After the spike, the price consolidated with ups and downs. The trading range for the day is about 80 pips. Most of the London/NY trading has been in a 42 pip range.