The GBPUSD trading and 1.3194. That's within six pips of the high for the day at 1.3200. The high price for the year is also being approached. That level came in at 1.32067 reached on April 3.

Move above that level and a swing area between 1.3221 to 1.3245 would be targeted.

Conversely, staying below and a rotation back toward 1.3044 – 1.3058 cannot be ruled out over time. As evident from the sharp move to the downside and back up over the last week or two, the volatility can rear its ugly head at a moments notice. The high price on April 3 reached 1.32067. The low price from last April 8 reached 1.27447 before stretching back up to 1.3200 on April 14. That represents a line of pips over a seven day trading time period.