Things are relatively stable as the Brexit headlines roll across the screens but we still need to watch the levels
If you didn't know about the Brexit noise, you'd wouldn't think anything untoward has happened today, just judging by the market moves.
The pound has been a touch more lively than normal but levels in play have held.
The 1.2375 area has been an old S&R level for quite some time. It's not a huge level but it's one of those ones that acts as a natural stretch point after a sizeable move.
GBPUSD H4 chart
It's been aided by the 200 H4 ma and managed to do what the 100 and 55 dma's couldn't around the 1.2400/15 levels.
Resistance is right around the current level of 1.2460 and a break there sets up a move to tackle 1.2500.
GBPUSD 15m chart
May has started PMQ's in Parliament and apart from a few rants from Scottish MP's, the Brexit chatter is pretty lacking. Around the bottom of the hour she will address the House on Brexit so that's where the next headline risk will be.
