GBPUSD moves up toward 200 hour moving average/50% retracement

1.3377 = 200 hour MA. 50% at 1.33807

The GBPUSD has moved up to a new NY session high and in the process is moving closer to the 200 hour moving average 1.3377 and the 50% retracement of the move down from Friday's high at 1.33807. The high price just reached 1.33722.

The price moved lower in the London morning session on negative Brexit news, but has recovered in the NY session on increasing hopes for a deal. PM Johnson and EUs von der Leyen are in the midst of talks currently.

UPDATE: BBC is reporting that the call between PM and EU chief has finished. Sounds like it hasn't change much...We should know more before too long.

On the downside, there are two downside swing areas:

1. The 1.33029 to 1.33116 is the closest target.
2. The 1.3283 to 1.32912 is the next target

The 2nd target was tested before the run to the NY session high and found buyers.

The price of the GBPUSD has seen volatile price action today, but holding below the 200 hour MA/50% tilts the intermediate bias lower (although there is decent support too).