100 bar MA stalling the corrective move
FYI, the 100 bar MA on the 5-minute chart is trying to keep a lid on the corrective action in the GBPUSD today (for a more detailed look at the GBPUSD from earlier CLICK HERE). The moving average has done a good job at capping the rallies today. Be aware. Bears remain in control below the MA intraday.
The GBP is the weakest currency today after the CPI inflation data disappointed.