GBPUSD moves back above resistance at 1.3161. Now support.

Squeezing some of the shorts

The GBPUSD has moved back above the weeks lows and the 50% at the 1.3161. The level tried to hold but resistance gave way and the intraday sellers, turned to buyers. Now the waters are a bit more muddy as the 1.3161 is now support with resistance near the 1.3186 level now (intraday highs and the 50% of the move down from the 1.32616). See the yellow area in the chart below.