GBPUSD trades between trend lines on hourly chart


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On more strength watch 1.3205

The GBPUSD is higher, but the price action has seen ups and downs on the way higher.

The highs have seen stalls near a topside trend line. The last run higher did push a bit above the line, but the rally petered out and the price has moved back toward a lower trend line. 
The topside trend line comes in at 1.3173. The lower trend line cuts across at 1.3109.
A break of either should solicit sellers or buyers on the break.
Taking a broader look at the daily chart, the move higher today pushed the price closer to a topside trend line at the 1.3200 area.   A break above that level looks toward the October and September highs at 1.3257 and 1.3298. The 38.2% of the move down from the 2018 comes in at 1.33163.  


Yesterday, the price moved above the 100 day MA at 1.3035. The move above that MA is more bullish. Having said that the price moved above that MA in September and October, but rallies stalled and the price rotated lower. 
PS The Brexit agreement hope is helping the pair but that optimism can shift in a heartbeat (or headline). So be sure to define risk and have stops in place.
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