GBPUSD price action makes you want to lie down until the feeling to trade goes away

The move to the upside in the GBPUSD today, did briefly break above its 100 hour moving average (blue line currently at 1.30974), but the momentum could not be sustained as sellers leaned against the high from yesterday instead (see green numbered circles).

On the downside, swing lows from March 29 at 1.3059 and 1.3049 will now be eyed (the price currently trading at 1.3072) followed by a swing low going back to March 16 at 1.30419 (see red numbered circles).

Yesterday’s low stalled just ahead of that level as did the post the FOMC  volatility 
Volatility

In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid fluctuations in price. Overall, volatility is an important statistical indicator used by many parties, including financial traders, analysts, and brokers. Volatility can be an important determinant in developing trading systems, protocols, or regulations.In the retail space, traders can be successful in both low and high volatile environments, however the strategies employed are often different depending upon volatility. Is Volatility Good or Bad? In the forex space, lower levels of volatile across currency pairs offer less surprises, movements, and are suited to certain types of individuals such as position traders.By extension, high volatile pairs are attractive for many day traders. This is due to rapid and strong movements, which collectively offer the potential for higher profits.However, the risk associated with such volatile pairs are manifold. Of note, volatility with instruments or indices can and do change over time. There can be periods when even highly volatile instruments show signs of flatness, with price not really making headway in either direction. For example, certain months in the summer are associated with low trading volatility.Too little volatility is just as problematic for markets as too much. Too much volatility can instill panic and create its own issues, such as liquidity constraints.A famous example of this are considered Black Swan events, which have historically roiled currency and equity markets.

In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid fluctuations in price. Overall, volatility is an important statistical indicator used by many parties, including financial traders, analysts, and brokers. Volatility can be an important determinant in developing trading systems, protocols, or regulations.In the retail space, traders can be successful in both low and high volatile environments, however the strategies employed are often different depending upon volatility. Is Volatility Good or Bad? In the forex space, lower levels of volatile across currency pairs offer less surprises, movements, and are suited to certain types of individuals such as position traders.By extension, high volatile pairs are attractive for many day traders. This is due to rapid and strong movements, which collectively offer the potential for higher profits.However, the risk associated with such volatile pairs are manifold. Of note, volatility with instruments or indices can and do change over time. There can be periods when even highly volatile instruments show signs of flatness, with price not really making headway in either direction. For example, certain months in the summer are associated with low trading volatility.Too little volatility is just as problematic for markets as too much. Too much volatility can instill panic and create its own issues, such as liquidity constraints.A famous example of this are considered Black Swan events, which have historically roiled currency and equity markets.
Read this Term low (at 1.30472).