The GBPUSD has been trading up and down today and consolidated the gains after reaching a high on Friday in the pair near the low of a swing area on the daily chart.
The US session low has so far tested it rising 100-hour moving average of 1.30729. The price of the GBPUSD has not traded below that moving average since July 6. Getting below the 100-hour moving average – and staying below – would increase the bearish bias in the short term at the least.
Absent that, and the buyers are still winning. The sellers are losing.
GBPUSD tests is a 100 hour moving average. Key barometer