GBPUSD ping-ponging between 38.2% and 50% of the April trading range

The volatile move to the upside in the dollar after the US GDP, has reversed course after holding support against its broken 38.2% retracement of the April trading range. The corrective move has also stalled against the 50% of the same range.

Traders are awaiting the next shove outside of the retracement levels.

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