GBP/USD is unsure about a break of the key level for now
The 200-day MA now sits at 1.3542, and looking at the dollar’s move today I can only see this as the only reason keeping the pair up for the time being. UK traders are away for today, so liquidity in sterling is a bit thin so we may only get a clear picture tomorrow.
But nonetheless, this is the key level that traders need to look out for in cable right now as it is the battleground between buyers and sellers in defining bias in the pair.
A break below opens up a move towards the 50.0 retracement level @ 1.3429. But bids are also expected at the 1.3500 level so be wary of that.