GBPUSD chops around today, but up on the day.

EURGBP fall helping to keep the pair supported

The GBPUSD price action today has been choppy with up and down activity, but trades with a bit more bullish bias:

• The price is higher on the day.  The price closed at 1.4040 and we trade at 1.4065 now.
• The price low today reached 1.4020. That was above the 50% and swing lows from last week
• The price is above the 100 hour MA although the price action has been above and below that line today without much reaction to the line.

Although there is a little bullish, the pair has challenges ahead. 

The 1.4077 high on the current bar, was the high from yesterday. Above that is the topside trend line at the 1.4092 level, and the 200 hour MA comes in at 1.41052 (and starting to come down). 

Helping is the EURGBP fall today. That pair may have reached a temporary low near the 61.8%. Watch the 0.8723 level now. That is the underside of the broken trend line.  A move above that trend line could put the kibosh on the GBPUSD move higher.