Forex technical analysis: GBPUSD stays in the black after up and down day

Gives back all the gains though…
The GBPUSD moved down to test the close from Friday at 1.2880 in the NY afternoon, but stalled at the level. Earlier in the Asian session that level was tested and held. The subsequent rally into the London morning session, took the price to a high of 1.2940.  Overall, it was a 60 pip rally up…and a 60 pip fall down… We currently trade just below the 1.2900 level currently after moving to 1.2903 and testing the 38.2% of the move lower today. Bears more in control in that chart.  

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