Backs off on the first look
The GBPUSD has moved up to test the next topside swing area at the 1.2224-316 area. Those were highs from Friday and Thursday of last week. The price stalled in that area and backed off a bit.
The move higher has taken the price away from the 200 hour MA at 1.21813. That will now be a risk/bias defining level below.
Meanwhile, the GBPJPY has extended higher as well and tests the 130.00 level. The run higher takes the price above a trend line at 129.73. That is now close risk for traders.
