Cable continues to flirt with 200-hour moving average as dollar holds weaker

GBP/USD buyers looking to establish a firm upside break in the near-term
It’s very much a similar story to overnight trading before price broke higher but ran into resistance from the 38.2 retracement level @ 1.2571. That saw price retreat back below the 200-hour MA (blue line) as the dollar firmed before inching back higher today.