GBPUSD ping pongs between technical levels

In the morning kickstart video, I spoke to the support near the 200 hour MA and the swing area, and if that level held, the need to get and stay above the 38.2% of the April trading range.

Well those levels have defined the range in the US session (give or take a couple pips on support and resistance targets. The price is ping ponging.

The good news is that with support holding and resistance doing its thing, it increases each extremes importance. That is, when the next shove comes (higher or lower), there should be momentum in the direction of the break.

So we can lament the ups and downs, but take solace in the hopes that the next break leads to a run.

This article was written by Greg Michalowski at www.forexlive.com.