GBPUSD is finding some good levels to play with

The pound has found some balance after the drop from 1.4500

The pound is on the rise today and has just run to a new high of 1.4140. It did virtually nothing after the retail sales so we can't finger that as a reason.

The mid-1.40's has developed into decent looking support. I had 1.4040/45 pegged but we've it slightly higher at 1.4050.

GBPUSD H4 chart

1.4080/85 keeps having a say in things but is only a level to watch rather than trade.

1.4230 is another level that's played both S&R and it's been joined by the 200 & 100 H4 ma's at 1.4233/35.

As I've just mentioned in the comments, I'm fence sitting while cable is at these levels. 1.4050 and 1.4230 are the two levels I'd be most interested in taking a trade against for a short term play. Longs down around the multi year lows from 1.38 to 1.35 are still my long term play. 1.4500 has become a good looking resistance area to mark the top of the years range.

Plenty of levels to play for all.

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